POWERGRID Acquires 100% Stake In Fatehgarh II Transmission

Power Grid Corporation of India Limited (POWERGRID) has acquired a 100% equity stake in Fatehgarh II Transmission Limited, strengthening its presence in India’s power transmission sector. The acquisition was completed on August 28, 2026, through the Tariff-Based Competitive Bidding (TBCB) route from PFC Consulting Limited, the Bid Process Coordinator.

The transaction was disclosed to the National Stock Exchange of India Limited and BSE Limited in compliance with applicable SEBI regulations. Fatehgarh II Transmission Limited is a special purpose vehicle (SPV) established by PFC Consulting Limited under the Ministry of Power’s guidelines to develop an Inter-State Transmission System project.

The project will be implemented on a Build, Own, Operate, and Transfer (BOOT) basis. Its key scope includes the installation and commissioning of two Synchronous Condensers (SynCon) at the 765/400/220kV Fatehgarh-II Substation. The project will also include the development of associated bays and other required transmission infrastructure.

POWERGRID stated that the total cost of the acquisition is approximately Rs 19.11 crore. The amount includes the acquisition of 10,000 equity shares at a face value of Rs 10 each, along with the takeover of the company’s existing assets and liabilities as of August 28, 2026. The final consideration will be subject to adjustments based on the audited accounts.

Fatehgarh II Transmission Limited was incorporated on May 6, 2026. At the time of acquisition, the company had not started commercial operations and had reported no financial turnover.

POWERGRID confirmed that the transaction is not a related party transaction. It also stated that none of its promoters or group companies had any previous interest in the acquired entity.

Following the acquisition, Fatehgarh II Transmission Limited will undertake the necessary regulatory processes. These include obtaining a transmission licence and securing the adoption of transmission charges from the Central Electricity Regulatory Commission (CERC).

The acquisition supports POWERGRID’s core transmission business and is expected to contribute to the development and strengthening of India’s interstate power transmission infrastructure.