M&A

M&A

Powergrid acquires project SPV Bidar Transco for Rs.6.52 Cr under tariff-based bidding

BSE Announcement  

Power Grid Corporation of India is to acquire New Delhi-headquartered Bidar Transco Ltd (BTL) after being selected as a successful bidder under a tariff-based competitive bidding (TBCB). The acquisition would be made for about INR 6.52 crore, including 50,000 equity shares at par at INR 10 each, along with assets and liabilities of BTL.BTL shall be engaged in the business of transmission of power. It is yet to start commercial operations, and no turnover has been recorded during the last three years.The project comprises augmentation works at under-construction sub-station in Karnataka.