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Business Standard
2 days ago
- Business
- Business Standard
PowerGrid stock gains 2% after acquiring MEL Power Transmission for ₹8.5 cr
PowerGrid share price today: Shares of Power Grid Corporation of India jumped over 2 per cent to hit an intraday high of ₹295.25 after the company announced the acquisition of MEL Power Transmission (MPTL), a project-specific special purpose vehicle (SPV), under the Tariff Based Competitive Bidding (TBCB) route. At 3 PM on Thursday, PowerGrid's stock was quoting at ₹294.55, up 2 per cent compared to previous day's close of ₹28.55 on the National Stock Exchange (NSE). In comparison, the benchmark Nifty50 index was trading at 24,72.6, up 107.4 points or 0.44 per cent. The stock has recovered nearly 20 per cent from its 52-week low of ₹247.3 touched on February 28, 2025. The company's total market capitalisation stood at ₹2.73 trillion. According to the exchange filing, the company acquired a 100 per cent equity stake in MPTL for a total consideration of around ₹8.53 crore. "The SPV was established for the implementation of the 'Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh' on a build, own, operate, and transfer (BOOT) basis," it added. The project comprises the development of a 400kV double-circuit (D/C) transmission line and associated bays at the existing Rewa PS (PG) substation in the state of Madhya Pradesh. The acquisition cost also includes the assets and liabilities of MPTL as of the acquisition date. However, the final purchase consideration remains subject to adjustment based on MPTL's audited financials, as per the filing. About Power Grid Corporation of India PowerGrid is mainly engaged in the power transmission business through its EHVAC/HVDC transmission network. The company has diversified into the telecom business by leveraging its pan-India transmission network through the stringing of optical ground wire(OPGW). The state-owned company also provides consultancy services to domestic and international clients by leveraging its capability and experience in the field of power transmission, sub-transmission, distribution management, load dispatch & communication etc. Incorporated in October 1999, Power Grid is a Schedule A 'Maharatna' public sector enterprise (PSE). The government of India owns a 51.34 per cent stake in the company and the remaining is held by institutional investors and the public.
Business Standard
2 days ago
- Business
- Business Standard
Power Grid gains after acquiring MEL Power Transmission for Rs 8.53 crore
Power Grid Corporation of India added 1.87% to Rs 294 after the company said that it has acquired MEL Power Transmission (MPTL), a special purpose vehicle, for an aggregate value of Rs 8.53 crore. The acquisition, completed on 4 June 2025, was made under tariff-based competitive bidding as part of the transmission system for evacuating power from Mahan Energens generating station in Madhya Pradesh. The deal includes 10,000 equity shares at face value, along with MPTLs assets and liabilities as on the acquisition date. The final acquisition cost is subject to adjustments based on the audited financials of MPTL. The transmission project involves the establishment of a 400 kV double circuit transmission line and associated bays at the Rewa PowerGrid substation. It will be developed on a Build, Own, Operate, and Transfer (BOOT) basis. MPTL, incorporated on 19 November 2024, by PFC Consulting (PFCCL) the designated bid process coordinator has not yet commenced operations and has reported no turnover. The company is aligned with PowerGrids core transmission business and was acquired following PowerGrids successful bid for the project. The acquisition is not classified as a related party transaction, and PowerGrid held no prior interest in MPTL. Regulatory approvals for the grant of a transmission licence and adoption of transmission charges will be sought from the Central Electricity Regulatory Commission following the acquisition. Before this deal, neither Power Grid nor its promoter group held any interest in MPTL, the company informed. The Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. The firm is a Maharatna' company under the Ministry of Power, GoI. As of 31 March 2025, the Government of India owned a 51.34% stake in the company. The companys consolidated net profit fell marginally to Rs 4,142.87 crore in Q4 FY25 as against Rs 4,166.33 crore posted in Q4 FY24. However, revenue from operations rose 2.48% YoY to Rs 12,275.35 crore recorded in the quarter ended 31 March 2025.
Time of India
2 days ago
- Business
- Time of India
Power Grid shares in focus on Rs 8.53 crore acquisition of MEL Power Transmission
Power Grid Corporation of India (Power Grid) will be in the spotlight on Thursday, June 5, after the company announced the acquisition of MEL Power Transmission Ltd (MPTL), a project-specific special purpose vehicle (SPV), under the Tariff-Based Competitive Bidding (TBCB) route. The acquisition transaction involved a 100% equity takeover of MPTL. Power Grid acquired the SPV for a total consideration of approximately Rs 8.53 crore. The acquisition cost also accounts for the assets and liabilities of MPTL as on the acquisition date. However, the final purchase consideration remains subject to adjustment based on MPTL's audited financials. The acquisition was completed on June 4. According to the regulatory filing, Power Grid acquired MPTL according to its selection as the successful bidder by the Bid Process Coordinator, PFC Consulting Ltd (PFCCL). The SPV was established for the implementation of the 'Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh' on a build, own, operate, and transfer (BOOT) basis. The project's scope includes the development of a 400kV double-circuit (D/C) transmission line and the associated infrastructure at the Rewa (PG) substation, located in the state of Madhya Pradesh. MPTL was incorporated on November 19, 2024, by PFCCL and was created following the government's notification of the TBCB framework aimed at facilitating private sector participation and ensuring transparency in project allocation. Before this deal, neither Power Grid nor its promoter group held any interest in MPTL, the company informed. The shares of Power Grid closed flat at Rs 288.60 on the BSE on Wednesday. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
2 days ago
- Business
- Economic Times
Power Grid shares in focus on Rs 8.53 crore acquisition of MEL Power Transmission
Power Grid Corporation of India (Power Grid) will be in the spotlight on Thursday, June 5, after the company announced the acquisition of MEL Power Transmission Ltd (MPTL), a project-specific special purpose vehicle (SPV), under the Tariff-Based Competitive Bidding (TBCB) route. ADVERTISEMENT The acquisition transaction involved a 100% equity takeover of MPTL. Power Grid acquired the SPV for a total consideration of approximately Rs 8.53 crore. The acquisition cost also accounts for the assets and liabilities of MPTL as on the acquisition date. However, the final purchase consideration remains subject to adjustment based on MPTL's audited financials. The acquisition was completed on June to the regulatory filing, Power Grid acquired MPTL according to its selection as the successful bidder by the Bid Process Coordinator, PFC Consulting Ltd (PFCCL). The SPV was established for the implementation of the 'Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh' on a build, own, operate, and transfer (BOOT) project's scope includes the development of a 400kV double-circuit (D/C) transmission line and the associated infrastructure at the Rewa (PG) substation, located in the state of Madhya Pradesh. ADVERTISEMENT MPTL was incorporated on November 19, 2024, by PFCCL and was created following the government's notification of the TBCB framework aimed at facilitating private sector participation and ensuring transparency in project allocation. Before this deal, neither Power Grid nor its promoter group held any interest in MPTL, the company informed. ADVERTISEMENT The shares of Power Grid closed flat at Rs 288.60 on the BSE on Wednesday. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Business Upturn
2 days ago
- Business
- Business Upturn
Powergrid acquires MEL Power Transmission for Rs 8.53 crore under tariff-based bidding
By Aditya Bhagchandani Published on June 4, 2025, 18:30 IST Power Grid Corporation of India Limited (POWERGRID) on June 4 announced the acquisition of MEL Power Transmission Limited (MPTL) for Rs 8.53 crore, marking another key addition to its transmission network under the Tariff-Based Competitive Bidding (TBCB) route. The acquisition follows POWERGRID's selection as the successful bidder for the project titled 'Transmission System for evacuation of power from Mahan Energen Limited Generating Station in Madhya Pradesh.' The project involves setting up a 400kV double-circuit transmission line and associated bays at the existing Rewa Powergrid substation. MPTL, incorporated on November 19, 2024, by PFC Consulting Limited, was transferred to POWERGRID on a Build, Own, Operate, and Transfer (BOOT) basis. The acquisition includes 10,000 equity shares at par and the company's assets and liabilities, with the price subject to adjustment based on audited accounts. POWERGRID acquired 100% shareholding in MPTL, which aligns with its core business of power transmission. Although MPTL is yet to commence commercial operations, it is expected to play a crucial role in strengthening the evacuation infrastructure for power generation in Madhya Pradesh. Further regulatory approvals, such as the grant of a transmission license and adoption of transmission charges, will be secured from the Central Electricity Regulatory Commission (CERC). Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
