Power Grid Share Price in Focus; Expands Network with Khavda and Bidar Acquisitions

Power Grid Corporation of India Limited’s share price traded at ₹263.75 at 1:40 PM on the NSE, marking a decline of ₹3.20, or 1.20%, from the previous close. The stock opened at ₹262.50 and reached a high of ₹268.50 and a low of ₹262.30 during the day.

Power Grid Corporation of India is making significant strides in expanding its power transmission network with the recent acquisitions of Khavda V-B1B2 and Bidar Transco Limited, bolstering its growth prospects in the sector.

Acquisition Details of the Khavda Power Transmission

This acquisition follows Power Grid’s emerging as the successful bidder under a Tariff Based Competitive Bidding process. Khavda V-B1B2 Power Transmission Limited operates in the power transmission sector, aligning with Power Grid’s core business of electricity transmission.

The deal was completed for a consideration of ₹65.1 million, and the acquisition did not require any governmental or regulatory approvals, the company said in a press release on the stock exchanges.

Additionally, the transaction will not be completed in tranches. The acquired entity operates solely within India.

Acquisition Details of the Bidar Transco Ltd

Power Grid emerged as the successful bidder under a Tariff Based Competitive Bidding process, and this acquisition aligns with their core business of power transmission.

Bidar Transco Limited, like Khavda V-B1B2, operates within the same industry, providing a strategic fit for Power Grid’s network expansion. The acquisition was made for a consideration of ₹65.2 million, and it does not require any governmental or regulatory approvals.

The company is engaged in the transmission of power and operates solely in India, the company said in a separate press release on the stock exchanges.

Conclusion

Power Grid Corporation of India’s recent acquisitions of Khavda V-B1B2 and Bidar Transco Limited signify a strategic expansion of its power transmission infrastructure, positioning the company for continued growth in the sector.

These moves enhance its capabilities in power transmission and strengthen its market presence in India.

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