Business Update3 Sept 2024, 10:39 pm
G R Infraprojects Acquires Tumkur-II REZ Power Transmission Limited for Rs. 6 Crore 72 Lakhs
AI Summary
G R Infraprojects Ltd has entered into a Share Purchase Agreement with REC Power Development and Consultancy Limited for the acquisition of Tumkur-II REZ Power Transmission Limited. The acquisition was made to undertake the Project 'Establishment of 400/220 kV 4x500 MVA Pooling Station near Tumkur, Karnataka, Tumkur-II — Tumkur (Pavagada) line 400 kV (Quad ACSR Moose) D/c line and 2x125 MVAr 420 kV bus reactors with bays at Tumkur-II PS'. Tumkur-II REZ Power Transmission Limited has become a wholly owned subsidiary of G R Infraprojects Limited. The acquisition price was Rs. 6,72,13,710/-.
Key Highlights
- G R Infraprojects Ltd acquires Tumkur-II REZ Power Transmission Limited
- Acquisition made to undertake a 400/220 kV 4x500 MVA Pooling Station project near Tumkur, Karnataka
- Tumkur-II REZ Power Transmission Limited becomes a wholly owned subsidiary of G R Infraprojects Limited
- Acquisition price was Rs. 6,72,13,710/-
- No related party transaction and no interest of promoter/ promoter group/ group companies in the acquisition