M&A

M&A

IndiGrid to acquire Khargone Transmission for Rs.1497.5 Cr

Economic Times  

Power sector infrastructure investment trust (InvIT) IndiGrid will acquire a 100% equity stake in Khargone Transmission at an enterprise value of about INR 1,497.5 crore for cash from Sterlite Power Transmission Ltd (one of the sponsors of IndiGrid, besides KKR). The transmission project was awarded by the Ministry of Power for a 35-year period on a BOOM (Build, Own, Operate and Maintain) basis. The project, located in Madhya Pradesh and Maharashtra, was meant to improve power supply and grid reliability by delivering 1320MW of thermal power from Khargone power plant to consumers in the domestic, commercial, agricultural, and industrial segments.