POWERGRID acquires Mandsaur I RE Transmission for INR 7.30 crore

On October 8, 2025, Power Grid Corporation of India Limited (POWERGRID) announced the acquisition of Mandsaur I RE Transmission Limited (MIRETL). This acquisition follows POWERGRID's selection as the successful bidder under a Tariff Based Competitive Bidding (TBCB) route, reinforcing its position in the power transmission sector. MIRETL is tasked with establishing "Augmentation of transformation capacity and Implementation of line bays at Mandsaur S/s for RE Interconnection" on a build, own, operate, and transfer (BOOT) basis.

The acquisition involved a cash consideration totaling approximately INR 7.30 crore, including 10,000 equity shares valued at INR 10 each, along with MIRETL's assets and liabilities as of the acquisition date. This price is subject to adjustment based on MIRETL's audited accounts. MIRETL was incorporated on April 16, 2025, and will operate in India, focusing on power transmission, aligning with POWERGRID's core business.

All requisite approvals for the transfer of MIRETL were secured by the Bid Process Coordinator. Further approvals for the transmission license and adoption of transmission charges are pending from the Central Electricity Regulatory Commission following POWERGRID's acquisition. MIRETL is yet to commence commercial operations and has no recorded turnover in the last three years.