Power Grid Corporation of India Limited on June 29, 2026 acquired Kakinada I Transmission Limited for an aggregate value of Rs 20.50 crore, gaining complete 100% control of the green energy transmission entity. The acquisition includes 10,000 equity shares at par value of Rs 10 each, along with all assets and liabilities of KITL as of the acquisition date.
The project involves establishing a new 765/400kV GIS Sub-station with STATCOM technology and 765kV transmission line works in Andhra Pradesh under a build, own, operate and transfer (BOOT) model. KITL will develop the transmission system for proposed Green Hydrogen and Green Ammonia projects in the Kakinada area (Phase-I) on behalf of the Bid Process Coordinator.
POWERGRID emerged as the successful bidder under the Tariff Based Competitive Bidding process conducted by the Bid Process Coordinator PFC Consulting Limited (PFCCL). Prior to acquisition, POWERGRID had no interest in the transaction as it fell outside related party transactions.
Founded on February 20, 2025 by the Bid Process Coordinator, KITL has not commenced commercial operations and recorded no turnover in the last three years. The entity operates exclusively in India within the power transmission sector, consistent with POWERGRID's core business activities.
Relevant governmental approvals were secured by the Bid Process Coordinator for KITL's transfer. KITL will subsequently obtain Transmission License and Transmission Charges adoption approvals from the Central Electricity Regulatory Commission post-acquisition. The transaction followed standard regulatory procedures under SEBI Master Circular dated January 30, 2026.
Acquisition price is subject to adjustment based on audited accounts of KITL as of June 29, 2026. The deal advances POWERGRID's strategic presence in India's renewable energy transmission infrastructure supporting green hydrogen and ammonia development initiatives.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.