Power Grid Acquires SR and ER Power Transmission for Rs. 19 Crore
Filing Summary
Power Grid Corporation of India Ltd has acquired SR and ER Power Transmission Limited for approximately Rs. 19 Crore. The acquisition was completed on February 3, 2026, under the Tariff Based Competitive Bidding (TBCB) route. The project involves establishing inter-regional strengthening between the Southern Region (SR) and Eastern Region (ER) grids on a build, own, operate, and transfer basis. The acquisition includes 100% shareholding and involves 765 kV D/c transmission lines in Odisha and Andhra Pradesh. Regulatory approvals were obtained, and further approvals are pending from the Central Electricity Regulatory Commission.
Power Grid Corporation of India Ltd has completed the acquisition of SR and ER Power Transmission Limited on February 3, 2026. This acquisition was conducted under the Tariff Based Competitive Bidding (TBCB) route. The project involves the establishment of inter-regional strengthening between the Southern Region (SR) and Eastern Region (ER) grids. The acquisition was made from the Bid Process Coordinator, PFC Consulting Limited (PFCCL), on a build, own, operate, and transfer (BOOT) basis.
The financial terms of the acquisition include a total consideration of approximately Rs. 19.63 Crore. This amount covers the acquisition of 10,000 equity shares at a par value of Rs. 10 each, along with the assets and liabilities of SR and ER Power Transmission Limited as of the acquisition date. The acquisition price is subject to adjustment based on the audited accounts of the company as of the acquisition date.
The operational scope of the project includes the construction of 765 kV D/c transmission lines traversing the states of Odisha and Andhra Pradesh. The project also involves associated line bays and reactor works at both ends. The project is designed to enhance the power transmission capacity between the SR and ER grids, facilitating improved power distribution across these regions.
The acquisition does not fall within related party transactions, and Power Grid Corporation of India Ltd had no prior interest in SR and ER Power Transmission Limited. The target entity operates within the power transmission industry, aligning with Power Grid’s core business activities. The project was incorporated on August 22, 2025, by the Bid Process Coordinator under guidelines encouraging competition in the development of transmission projects.
Regulatory approvals required for the acquisition were obtained by the Bid Process Coordinator. However, approvals for the grant of transmission licenses and the adoption of transmission charges are to be obtained from the Central Electricity Regulatory Commission post-acquisition. The acquisition was completed as per the timelines provided by the Bid Process Coordinator.
Power Grid Corporation of India Ltd is a leading state-owned electric utility company in India. It is primarily engaged in the transmission of electricity across the country. The company focuses on expanding its transmission network and enhancing grid reliability to support the growing energy demands of India.