Ashoka Buildcon Acquires Sakoli Power Transmission for ₹3.06 Cr
Ashoka Buildcon Limited has acquired a 100% equity stake in Sakoli Power Transmission Limited, a Project Special Purpose Vehicle (SPV), from REC PDCL for a total consideration of ₹3.06 Crore. This acquisition includes share purchase and relevant expenses/liabilities of the SPV. Sakoli Power Transmission Limited was established to develop power transmission infrastructure on a Build-Own-Operate-Transfer (BOOT) basis. The SPV is scheduled for Commercial Operation within 24 months from the acquisition date. This move is a condition of the Letter of Intent received from REC Power Development and Consultancy Limited for the establishment of a 400/220/132 kV AIS Sakoli Substation and associated transmission lines through a Tariff Based Competitive Bidding process. Government approval from the Ministry of Power has been secured.
Key Highlights
- Ashoka Buildcon acquired 100% stake in Sakoli Power Transmission SPV.
- Total consideration for the acquisition was ₹3.06 Crore.
- The SPV is for a power transmission project in Sakoli, Bhandara.
- Commercial operation is expected within 24 months post-acquisition.
- Acquisition was a condition for a competitive bidding process.
Price Impact
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