New Delhi, Feb 18 (PTI) Power Grid Corporation of India (Powergrid) on Tuesday said it was acquiring Bidar Transco Ltd (BTL) after being selected as a successful bidder under a tariff-based competitive bidding (TBCB).

REC Power Development and Consultancy Ltd (RECPDCL), and arm of REC Ltd, acted as the bid coordinator, Powergrid said in an exchange filing.

Also Read | News Headlines for School Assembly Today, 19 February 2025: Check Important National, International, Sports, Entertainment and Business Stories.

On the objectives behind the acquisition, it said BTL is engaged in the same business as that of Powergrid.

BTL has been acquired for an aggregate value of about Rs 6.52 crore, including 50,000 equity shares at par at Rs 10 each, along with assets and liabilities of BTL as on the acquisition date (18.02.2025).

Also Read | What Is Chameleoning? All About the New Gen Z Dating Term You Might Be Unknowingly Living.

However, the acquisition price is subject to adjustment as per the audited accounts of BTL as on the acquisition date.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)