Power Grid Corporation of India Limited (POWERGRID) has acquired Davanagere Power Transmission Limited (DPTL) on September 24, 2025. The acquisition, made through the Tariff Based Competitive Bidding (TBCB) route, aims to establish a transmission system strengthening project at Davanagere for the integration of RE Generation. The project involves building, owning, operating, and transferring the asset. The acquisition cost is approximately ₹6.53 Crore.
Acquisition of DPTL
PowerGrid has successfully acquired Davanagere Power Transmission Limited (DPTL) as of September 24, 2025. This acquisition was made possible through POWERGRID’s selection as the successful bidder under Tariff Based Competitive Bidding (TBCB).
Project Details
The acquisition of DPTL is for establishing “Transmission System Strengthening at Davanagere for Integration of RE Generation.” The project will operate on a build, own, operate, and transfer (BOOT) basis. This project was facilitated by REC Power Development and Consultancy Limited (RECPDCL).
Project Scope
The project includes augmentation works at an under-construction sub-station (Davanagere PS) located in the state of Karnataka.
Target Entity Details
The target entity is Davanagere Power Transmission Limited (DPTL). POWERGRID had no prior related party interest in DPTL.
Industry
DPTL operates within the power transmission industry, aligning with POWERGRID’s core business.
Impact of Acquisition
The acquisition of DPTL allows POWERGRID to expand its transmission capabilities. DPTL’s business mirrors that of POWERGRID, focusing on power transmission.
Approvals and Timeline
DPTL was originally incorporated on June 26, 2025. All requisite approvals were obtained by the Bid Process Coordinator for the transfer of DPTL to POWERGRID. Further approvals for the Transmission License and Adoption of Transmission Charges will be secured from the Central Electricity Regulatory Commission (CERC) by DPTL following the acquisition.
Consideration
The acquisition was completed as per the timelines furnished by the Bid Process Coordinator. The acquisition cost is approximately ₹6.53 Crore, including 50,000 equity shares at par (₹10 each) along with the assets and liabilities of DPTL as of the acquisition date.
Shareholding
POWERGRID now holds 100% shareholding/control of DPTL.
Future Operations
DPTL will continue to operate in the business of transmission of power. DPTL is yet to commence commercial operations and is expected to begin in the near term. DPTL will operate within India.
Source: BSE
