Power Grid Corporation of India acquired Bhadla Ramgarh Power Transmission Limited on July 29, 2026, for a cash consideration of ₹12.86 crore. The transaction, disclosed to the National Stock Exchange and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, marks the completion of the acquisition process following Power Grid's selection as the successful bidder in the Tariff Based Competitive Bidding (TCB) route.

The acquisition secures 100% control of the Project Special Purpose Vehicle (SPV), which was incorporated on May 08, 2026, by the Bid Process Coordinator, REC Power Development and Consultancy Limited (RECPDCL). The deal includes the transfer of 50,000 equity shares at a par value of ₹10 each, along with all assets and liabilities of the target entity as of the acquisition date. While the base consideration is fixed at ₹12.86 crore, the final price remains subject to adjustment based on the audited accounts of the company as of July 29, 2026.

Project Scope and Regulatory Status

Bhadla Ramgarh Power Transmission Limited is engaged in the business of power transmission, aligning directly with Power Grid's core operations. The SPV is mandated to establish an Inter-State Transmission system on a Build, Own, Operate and Transfer (BOOT) basis. The specific project scope includes augmentation and bay extension works at three key substations:

The target entity was incorporated in accordance with the "Guidelines Encouraging Competition in Development of Transmission Projects" and the "Tariff based Competitive-bidding Guidelines for Transmission Service" notified by the Ministry of Power. RECPDCL obtained the requisite approvals for the transfer of the SPV prior to this acquisition.

Future Approvals and Financial Position

Post-acquisition, Bhadla Ramgarh Power Transmission Limited must obtain a Transmission License and have its Transmission Charges adopted by the Central Electricity Regulatory Commission (CERC). These regulatory clearances are pending and will be secured by the SPV after the transfer of ownership is finalized.

As the entity was incorporated only recently and has yet to commence commercial operations, it recorded no turnover during the last three years. The acquisition does not involve any related party transactions, and Power Grid had no prior interest in the entity before the bidding process concluded. The transaction strengthens Power Grid's asset base in the inter-state transmission sector without introducing new operational risks outside its main line of business.

Power Grid Corporation of India recorded a notable block trade on the National Stock Exchange (NSE), with approximately 5,013,202 shares changing hands at ₹289.40 per share, aggregating to a total deal value of ₹145.08 crores. Block trades of this scale typically reflect significant participation from institutional investors or large-scale market participants.

Block Trade Details

The following table summarises the key parameters of the block trade executed on the NSE:

Transaction Overview

Block trades are large, privately negotiated transactions executed outside the open market order book, typically involving a substantial number of shares. The execution of this trade at ₹289.40 per share for approximately 5,013,202 shares underscores the scale of activity observed in Power Grid Corporation of India's stock on the NSE. Such transactions are closely monitored by market participants as indicators of large investor interest in a particular security.