Power Grid in its regulatory filing said that the Transmission system comprises the establishment of a new 400kV Switching Substation, STATCOM, and substation extension work in Rajasthan and also comprises 400kV DIC Transmission lines which traverse in Rajasthan and Haryana.
Notably, the transmission system is an Inter-State Transmission System Project and is to be completed in 18 months.
On Thursday, Power Grid acquired the entity for an aggregate value of about Rs.20.50cr including 10,000 equity shares at par.
In another development, Power Grid has also acquired a 74% stake of Jaiprakash Power Ventures in Jaypee Powergrid Limited (a Joint Venture Company of POWERGRID and Jaiprakash Power Ventures Limited).
Jaypee Powergrid Limited has now become a subsidiary of POWERGRID.
At around 2.19 pm, Power Grid was trading at Rs213.60 per piece down by 1.43% on Sensex.