 "Powergrid acquires Bidar Transco for Rs 6.52 cr under tariff-based bidding")
Power Grid Corporation of India (Powergrid) on Tuesday said it was acquiring Bidar Transco Ltd (BTL) after being selected as a successful bidder under a tariff-based competitive bidding (TBCB).
REC Power Development and Consultancy Ltd (RECPDCL), and arm of REC Ltd, acted as the bid coordinator, Powergrid said in an exchange filing.
On the objectives behind the acquisition, it said BTL is engaged in the same business as that of Powergrid.
BTL has been acquired for an aggregate value of about Rs 6.52 crore, including 50,000 equity shares at par at Rs 10 each, along with assets and liabilities of BTL as on the acquisition date (18.02.2025).
However, the acquisition price is subject to adjustment as per the audited accounts of BTL as on the acquisition date.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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