POWER GRID CORPORATION OF INDIA LTD. Acquires Rajasthan IV E Power Transmission Limited for Rs. 18.54 Cr.

POWER GRID CORPORATION OF INDIA LTD. has acquired Rajasthan IV E Power Transmission Limited (RIVEPTL) for an aggregate value of Rs. 18.54 Cr. The acquisition includes 50,000 equity shares at par at Rs. 10 each along with assets and liabilities of the Company. The acquisition was made under the Tariff Based Competitive Bidding (TBCB) route, as POWERGRID emerged as the successful bidder. RIVEPTL is engaged in the business of transmission of power, similar to POWERGRID's main line of business. The entity was incorporated on 14/10/2023 and is yet to start commercial operation. It will be operating in India.