POWER GRID CORPORATION OF INDIA LTD. Acquires Rajasthan IV H1 Power Transmission Limited for Rs. 18.81 Crore

POWER GRID CORPORATION OF INDIA LTD., a Government of India Enterprise, has acquired Rajasthan IV H1 Power Transmission Limited (RIVHIPTL) on 15.10.2024. The acquisition was made under the Tariff Based Competitive Bidding route for a total value of approximately Rs. 18.81 Crore. RIVHIPTL, incorporated on 13/10/2023, is engaged in the business of transmission of power and is yet to start commercial operation. The acquisition includes 50,000 equity shares at par at Rs. 10 each along with assets and liabilities of the Company. The acquisition price is subject to adjustment as per the audited accounts of the Company as on the acquisition date. RIVHIPTL was incorporated by the Bid Process Coordinator as per the 'Guidelines Encouraging Competition in Development of Transmission Projects' and 'Tariff based Competitive-bidding Guidelines for Transmission Service' notified by Ministry of Power (MoP). Approvals for Grant of Transmission License and Adoption of Transmission Charges are to be obtained from Central Electricity Regulatory Commission by RIVHIPTL after the acquisition by POWERGRID.