Acquisitions23 Aug 2024, 12:13 am
POWER GRID CORPORATION OF INDIA LTD. Acquires Beawar - Mandsaur Transmission Limited for Rs. 18.58 Cr.
AI Summary
POWER GRID CORPORATION OF INDIA LTD., a Government of India Enterprise, has acquired Beawar - Mandsaur Transmission Limited (BMTL) on 22.08.2024. The acquisition was made under Tariff based competitive bidding (TBCB) route for an aggregate value of about Rs. 18.58 Cr. BMTL, incorporated on 19/01/2024, is yet to start commercial operation and will be engaged in the business of transmission of power in India.
Key Highlights
- Acquisition of Beawar - Mandsaur Transmission Limited by POWERGRID under TBCB route.
- Acquisition for an aggregate value of about Rs. 18.58 Cr including 10,000 equity shares at par at Rs. 10 each.
- BMTL is engaged in the business of transmission of power, similar to POWERGRID's main line of business.
- BMTL was incorporated on 19/01/2024 and is yet to start commercial operation.
- BMTL will be operating in India.