Latest News | Powergrid Acquires Bidar Transco
Get latest articles and stories on Latest News at LatestLY. 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).
New Delhi, Feb 18 (PTI) 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).
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However, the acquisition price is subject to adjustment as per the audited accounts of BTL as on the acquisition date.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)