G R Infraprojects Acquires Tumkur-II REZ Power Transmission Ltd

On September 3, 2024, G R Infraprojects Limited (GRIL) announced that it has successfully completed the acquisition of Tumkur-II REZ Power Transmission Limited (TRPTL) from REC Power Development and Consultancy Limited (RECPDCL) through a Share Purchase Agreement. With this acquisition, TRPTL has become a wholly-owned subsidiary of G R Infraprojects Limited, marking a significant strategic move for the company as it expands its presence in the power transmission sector.

Tumkur-II REZ Power Transmission Limited was initially formed as a wholly-owned subsidiary by REC Power Development and Consultancy Limited. The company has an authorised and paid-up share capital of ₹5,00,000, divided into 50,000 equity shares of ₹10 each. This acquisition aligns with G R Infraprojects Limited’s broader strategy to enhance its portfolio in the power infrastructure space.

The primary objective behind this acquisition is linked to a recent project awarded to G R Infraprojects Limited. The company was identified as the Selected Bidder for the “Establishment of a 400/220 kV 4×500 MVA Pooling Station near Tumkur, Karnataka,” including the Tumkur-II to Tumkur (Pavagada) 400 kV (Quad ACSR Moose) D/c line, and the installation of 2×125 MVAr 420 kV bus reactors with bays at the Tumkur-II Pooling Station. The Letter of Intent for this project was issued on August 12, 2024.

As per the Request for Proposal (RFP) requirements, the company needed to acquire the shares of Tumkur-II REZ Power Transmission Limited from REC Power Development and Consultancy Limited to undertake the project. The acquisition was completed at a price of ₹6,72,13,710 (Rupees Six Crore Seventy-Two Lakhs Thirteen Thousand Seven Hundred Ten Only), involving the purchase of all 50,000 equity shares of ₹10 each.

This acquisition is a key milestone for G R Infraprojects Limited, enabling the company to strengthen its capabilities in power transmission and further cement its position in the infrastructure sector. The project is anticipated to play a crucial role in bolstering the power infrastructure in Karnataka, particularly in the Tumkur region.

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