Investment21 Aug 2025, 12:17 pm
Techno Electric & Engineering Company Ltd to Divest NERES XVI Power Transmission Limited for INR 4,600 million to IndiGrid Infrastructure Trust
AI Summary
Techno Electric & Engineering Company Ltd has executed binding agreements with IndiGrid Infrastructure Trust for the divestment of NERES XVI Power Transmission Limited. The divestment is expected to be completed post the Project achieving Commercial Operation Date at an enterprise value not exceeding INR 4,600 million, subject to closing adjustments. The transaction is not a related party transaction and IndiGrid will acquire entire shareholding and management control in NERES XVI Power Transmission Limited upon achieving COD.
Key Highlights
- Techno Electric & Engineering Company Ltd to divest NERES XVI Power Transmission Limited to IndiGrid Infrastructure Trust
- The divestment is expected to be completed post the Project achieving Commercial Operation Date at an enterprise value not exceeding INR 4,600 million
- IndiGrid will acquire entire shareholding and management control in NERES XVI Power Transmission Limited upon achieving COD
- NERES XVI Power Transmission Limited is an inter-state transmission system project
- The transaction is not a related party transaction