M&A

M&A

Tata Power acquires 100% stake in Bikaner SPV for Rs.19-Cr

Economic Times  

Tata Power Company has acquired a 100% equity stake in Bikaner III Neemrana II Transmission, a special purpose vehicle (SPV) meant for the project, for INR 18.6 crore. The special purpose vehicle, formed in June 2023, will build, own, operate, and transfer electrical power transmission systems between Bikaner and Neemrana in Rajasthan. It involves the purchase of equity against a cash consideration and a one-time settlement of the outstanding debt.