Power Grid Acquires Krishnagiri REZ Transmission Limited for ₹19.82 Crore
Power Grid Corporation of India Limited acquired Krishnagiri REZ Transmission Limited for approximately ₹19.82 Crore on August 3, 2026. The acquisition, under the TBCB route, involves establishing transmission systems for Krishnagiri REZ Phase-I. The SPV will focus on power transmission in Andhra Pradesh, Telangana, and Karnataka.
The acquisition involves a project of significant infrastructure development and expands POWERGRID's operational footprint, which is considered a medium impact on the company's overall business.
The acquisition of a project SPV is a positive development for POWERGRID, indicating expansion and growth in its core business of power transmission.
Power Grid Corporation of India Limited (POWERGRID) has successfully acquired Krishnagiri REZ Transmission Limited, the project Special Purpose Vehicle (SPV) established for the "Transmission System for integration of Krishnagiri REZ Phase-I". The acquisition was completed on August 3, 2026, under the Tariff Based Competitive Bidding (TBCB) route, with PFC Consulting Limited (PFCCL) acting as the Bid Process Coordinator.
The project entails establishing two new 765/400kV substations in Andhra Pradesh and constructing 765kV & 400kV transmission lines traversing Andhra Pradesh, Telangana, and Karnataka, along with associated bays.
Krishnagiri REZ Transmission Limited was acquired for an aggregate value of approximately ₹19.82 Crore. This consideration includes 10,000 equity shares at par (₹10 each) along with the assets and liabilities of the SPV as of the acquisition date. The final acquisition price is subject to adjustments based on the audited accounts as of the acquisition date. POWERGRID has acquired 100% shareholding and control in the SPV.
The acquired entity, Krishnagiri REZ Transmission Limited, will be engaged in the business of power transmission, aligning with POWERGRID's core operations. It was incorporated on April 29, 2026, by the Bid Process Coordinator and has not yet commenced commercial operations, hence no turnover has been recorded in the last three years. The SPV will operate in India.
Key approvals required for the acquisition were obtained by the Bid Process Coordinator. Krishnagiri REZ Transmission Limited will subsequently seek approvals for the Grant of Transmission License and Adoption of Transmission Charges from the Central Electricity Regulatory Commission (CERC).
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Power Grid Corporation of India Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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