Power Grid Corporation of India Limited has successfully expanded its transmission footprint, announcing the acquisition of SR WR Power Transmission Limited (SRWRPTL).
The transaction, executed on 17 October 2025, solidifies POWERGRID’s position in the high-voltage transmission sector after emerging as the successful bidder through the Tariff based Competitive Bidding (TBCB) route.
This strategic move sees POWERGRID assume 100% shareholding and control of SRWRPTL.
SRWRPTL functions as the Project SPV (Special Purpose Vehicle) designated to establish the critical infrastructure project: “Inter-Regional Strengthening between SR Grid and WR Grid”.
The project scope is substantial, involving the construction and operation of 765 kV D/c Transmission Lines.
These high-capacity lines will traverse key territories in the states of Karnataka & Maharashtra, along with necessary associated line bays at both ends of the grid connection.
POWERGRID acquired SRWRPTL from the Bid Process Coordinator, REC Power and Development Consultancy Limited (RECPDCL), under a build, own, operate and transfer (BOOT) mechanism.
The acquisition aligns perfectly with POWERGRID’s existing expertise, as SRWRPTL is engaged in the transmission of power, matching the listed entity’s main line of business.
The total cost of acquisition was achieved via a cash consideration. The aggregate value paid for SRWRPTL was about Rs. 11.29 Crore.
This amount encompasses 50,000 equity shares acquired at par (Rs. 10/- each), along with the assets and liabilities of SRWRPTL as of the acquisition date.
It is noted that this price is subject to adjustment based on the audited accounts of SRWRPTL as of 17.10.2025.
POWERGRID confirmed that the acquisition did not fall within related party transactions, as the company had no prior interest concerning related party matters regarding SRWRPTL.
SRWRPTL is a relatively new entity, having been incorporated by the Bid Process Coordinator on 01 July 2025. As it is yet to commence commercial operations, the target entity has recorded no turnover during the last three years.
While the requisite approvals for the transfer of SRWRPTL were obtained by the Bid Process Coordinator, the acquired entity must now secure further governmental approval.
Approvals for the Grant of Transmission License and the Adoption of Transmission Charges must be obtained from the Central Electricity Regulatory Commission (CERC) following the completion of the acquisition by POWERGRID.
Satyaprakash Dash, Company Secretary & Compliance Officer, signed the disclosure.
The information was provided in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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