India Grid Trust completed the acquisition of Raichur Sholapur Transmission Company Limited from Patel Engineering Limited, BS Limited and Simplex Infrastructures Limited.
November 08, 2022
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India Grid Trust (BSE:540565) signed share purchase agreement to acquire Raichur Sholapur Transmission Company Limited from Patel Engineering Limited (BSE:531120), BS Limited and Simplex Infrastructures Limited (BSE:523838) for enterprise value of INR 2500 million on July 30, 2022. India Grid Trust will acquire 33.34% stakes from Patel Engineering Limited, 33.33% stakes each from BS Limited and Simplex Infrastructures Limited. For the financial year ended on March 31, 2022 Raichur Sholapur Transmission Company Limited reported turnover of INR 38.70 billion. The transaction is subject to regulatory board/committee and subject to the terms of definitive agreements. The transaction is expected to close in Q2 FY23. S of November 9, 2022, India Grid Trust has completed the acquisition of 49% of paid-up capital and management control of Raichur Sholapur Transmission Company Private Limited from Patel Engineering Limited (7.84% stake), Simplex Infrastructures Limited (7.83% stake) and BS Limited (33.33% stake).
India Grid Trust (BSE:540565) completed the acquisition of Raichur Sholapur Transmission Company Limited from Patel Engineering Limited (BSE:531120), BS Limited and Simplex Infrastructures Limited (BSE:523838) on November 9, 2022.
India Grid Trust is an India-based infrastructure investment trust (InvIT) in the power transmission sector. The Company owns, operates, and manages power transmission networks and renewable energy assets that deliver reliable power throughout India. It operates through two segments: Power Transmission and Power generation. It owns 36 power projects, consisting of 46 transmission lines with more than 8,468 circuit Kilometers (km) length, 13 substations with around 17,550 mega volt amp (MVA) transformation capacity and about 855 MWAC of solar generation capacity. Its portfolio consists of 19 solar projects across eight states of the country. It also includes 15 operational transmission projects. Its portfolio includes Jabalpur Transmission Company Limited (JTCL), TN Solar Power Energy Private Limited, Universal Mine Developers & Service Providers Private Limited, Maheshwaram Transmission Limited (MTL), and more. Its investment manager is IndiGrid Investment Managers Limited (IIML).
India Grid Trust completed the acquisition of Raichur Sholapur Transmission Company Limited from Patel Engineering Limited, BS Limited and Simplex Infrastructures Limited.