Power Grid shares surges over 4% as company raises stakes in Cross Border Power Transmission
This acquisition increases POWERGRID's stake in CPTCL to 42%.

Power Grid shares surges over 4 as company raises stakes in Cross Border Power Transmission
State-owned Power Grid Corporation of India Ltd said it has acquired 77,30,225 equity shares of IL&FS Energy Development Company Ltd (IEDCL) in the joint venture Cross Border Power Transmission Company Ltd (CPTCL) for Rs 14.73 crore.
This acquisition increases POWERGRID's stake in CPTCL to 42%. CPTCL, established in 2006, is a joint venture among POWERGRID, IEDCL, Satluj Jal Vidyut Nigam Ltd (SJVNL), and Nepal Electricity Authority (NEA).
It focuses on implementing the Indian section of the Muzaffarpur-Dhalkebar 400 kV double circuit cross-border transmission line connecting India and Nepal.
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According to the exchange filing made, this is to inform you that Power Grid Corporation of India Limited has acquired 77,30,225 no. equity shares of IL&FS Energy Development Company Limited in the Joint Venture Company viz. Cross Border Power Transmission Company Limited. The transaction is part of IEDCL's divestment plan, as mandated by the National Company Law Tribunal (NCLT) under its resolution framework. The divestment aligns with the Shareholders' Agreement, allowing POWERGRID and other shareholders, SJVNL and NEA, to purchase shares proportionate to their existing holdings.
Following the requisite payments and transfer of shares, POWERGRID finalized the acquisition on December 16, 2024. Shares of PGCIL Ltd ended at Rs 302.55, up by Rs 4.90, or 1.65% on the BSE on 17 Jan 2025.
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