Power Grid Corporation of India Ltd
Power Grid Acquires Lakadia II Power Transmission for Rs. 18.43 Crore
M&A
▲ Positive Development
LOW RISK
📅 Filed on BSE: 12 Oct 2026, 05:34 PM IST · BSE ID: eccbe18c-1720-4b16-acc5-223672758ba9
View Original BSE Filing (PDF)
💡
In Simple Terms
Power Grid bought Lakadia II Power Transmission for Rs. 18.43 Crore to build new power lines and a substation in Gujarat.
🤖 AI Summary
- Power Grid acquired Lakadia II Power Transmission Limited for approximately Rs. 18.43 Crore on October 12, 2026.
- The acquisition was made under the Tariff Based Competitive Bidding (TBCB) route as the successful bidder.
- Power Grid secured 100% shareholding, including 50,000 equity shares at par, along with assets and liabilities.
- Lakadia II will establish a new 765/400kV Lakadia-II Sub-station and 765kV transmission lines in Gujarat.
- The target entity was incorporated on May 9, 2026, and has not yet commenced commercial operations.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Acquisition Cost
Rs. 18.43 Crore
Shareholding Acquired
100%
🏢 How This Affects the Company
This acquisition expands Power Grid's presence in the renewable energy transmission sector in Gujarat, aligning with its core business of power transmission. It adds a new project for integrating power from RE Projects in the Lakadia REZ.
The company incurred an acquisition cost of about Rs. 18.43 Crore, which includes equity shares, assets, and liabilities. This outlay reflects an investment in a new project, with future revenue generation dependent on obtaining transmission licenses and adoption of transmission charges.
Power Grid will now be responsible for establishing and operating a new 765/400kV Lakadia-II Sub-station and associated 765kV transmission lines in Gujarat. This integrates additional infrastructure into its existing operational network.
The acquisition involves a Project SPV that is yet to start commercial operation, introducing the operational risks associated with greenfield project development. Approvals for the transmission license and adoption of transmission charges are still pending from the Central Electricity Regulatory Commission.
👥 What This Means For Shareholders
✅
Action Required
No direct action is required by shareholders based on this acquisition filing.
👤
Who Is Affected
Shareholders of Power Grid Corporation of India Limited are affected by the company's strategic expansion into new transmission projects, contributing to its asset base and future revenue potential.
🔍
Management Signal
The acquisition demonstrates management's continued strategy of expanding its transmission asset base through competitive bidding, particularly focusing on integrating renewable energy projects.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Central Electricity Regulatory Commission's decision on transmission license and charges for Lakadia II.
Future operational updates regarding the establishment of the 765/400kV Lakadia-II Sub-station.
Disclosure of actual financial adjustments to the acquisition price based on audited accounts.
LOW RISK
The acquisition is part of Power Grid's core business and involves a relatively small amount compared to the company's size.
💡 Investor Takeaway
Power Grid Corporation of India Limited completed the acquisition of Lakadia II Power Transmission Limited for about Rs. 18.43 Crore on October 12, 2026. This secures a 100% stake in a new inter-state transmission project in Gujarat for renewable energy integration.
⚖️ Strengths & Concerns
✅ Positives
- Acquired 100% shareholding, ensuring full control over the project for establishing critical transmission infrastructure in Gujarat.
- Secured the project through Tariff Based Competitive Bidding, indicating a competitive advantage in project selection.
⚠️ Concerns
- Lakadia II Power Transmission Limited was incorporated on May 9, 2026, and is yet to start commercial operation, thus having no turnover.
- Approvals for Grant of Transmission License and Adoption of Transmission Charges are still required from the Central Electricity Regulatory Commission post-acquisition.
📅 Company Track Record
Power Grid has a track record of acquiring Project Special Purpose Vehicles (SPVs) under the TBCB route. Recent acquisitions include Krishnagiri REZ Transmission Limited for Rs. 19.82 Crore (August 2026) and Bhadla Ramgarh Power Transmission Limited for Rs. 12.86 Crore (July 2026), consistently expanding its transmission project portfolio.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the cost of Power Grid's acquisition of Lakadia II Power Transmission Limited?
Power Grid Corporation of India Limited acquired Lakadia II Power Transmission Limited for an aggregate value of about Rs. 18.43 Crore.
What percentage of Lakadia II Power Transmission Limited did Power Grid acquire?
Power Grid Corporation of India Limited acquired 100% shareholding and control of Lakadia II Power Transmission Limited.
When was Lakadia II Power Transmission Limited incorporated?
Lakadia II Power Transmission Limited was incorporated on May 9, 2026, by the Bid Process Coordinator.
What is the primary business of Lakadia II Power Transmission Limited?
Lakadia II Power Transmission Limited is engaged in the business of transmission of power, specifically to establish an Inter-State Transmission system for RE Projects in Lakadia REZ in Gujarat.
Questions based on this BSE filing only. For information purposes.