At an estimated enterprise value of Rs 1,497.5 crore, India Grid Trust (IndiGrid) would purchase a 100 percent equity holding in Khargone Transmission. A BSE filing states that the transaction will be made for a cash payment with an enterprise value of no more than Rs 1,497.5 crore. According to the statement, IndiGrid and Sterlite Power Transmission Ltd., one of the Sponsors of IndiGrid, entered into a share purchase agreement on January 21, 2023, for the
acquisition of a 100% ownership stake and economic interest, in one or more tranches, in Khargone Transmission Ltd. The completion of the acquisition would depend upon receipt of Unitholders'' consent, regulatory and other relevant approvals as well as completion of contractual obligations, it explained. The Khargone Transmission was incorporated on November 28, 2015.
The transmission project was awarded by the Ministry of Power for a 35-year period from the scheduled commercial operation date, on a BOOM basis. The project has 6 elements. The project has one substation element, three transmission line elements, one LILO element and one line bay. The project is located in the state of Madhya Pradesh and Maharashtra.
The goal of the project was to deliver 1320 MW of thermal energy from the Khargone power plant to users in the home, commercial, agricultural, and industrial segments in the states of Madhya Pradesh and Maharashtra, improving electricity supply and grid stability. In the late morning trade on the BSE, shares of IndiGrid Trust fell by 0.01 percent to Rs 140.
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