Acquisitions17 Jan 2025, 12:24 am
POWERGRID Acquires Gadag II and Koppal II Transmission Limited for Rs. 13.24 Crore
AI Summary
POWERGRID, a Government of India Enterprise, has acquired Gadag II and Koppal II Transmission Limited (GIIKIITL) for an aggregate value of approximately Rs. 13.24 Crore. The acquisition includes 10,000 equity shares at par at Rs. 10/- each, along with assets and liabilities of GIIKIITL as on the acquisition date (16.01.2025). The acquisition was made under the Tariff based competitive bidding route, as per the 'Guidelines Encouraging Competition in Development of Transmission Projects' and 'Tariff based Competitive-bidding Guidelines for Transmission Service' notified by the Ministry of Power.
Key Highlights
- POWERGRID has acquired Gadag II and Koppal II Transmission Limited (GIIKIITL) for approximately Rs. 13.24 Crore
- The acquisition includes 10,000 equity shares at par at Rs. 10/- each, along with assets and liabilities of GIIKIITL as on the acquisition date (16.01.2025)
- The acquisition was made under the Tariff based competitive bidding route
- GIIKIITL was incorporated on 21/10/2024 by the Bid Process Coordinator
- Requisite approvals were obtained by the Bid Process Coordinator for transfer of GIIKIITL