Power Grid Corporation of India Limited (POWERGRID) has acquired Mandsaur I RE Transmission Limited on October 8, 2025, through the Tariff Based Competitive Bidding (TBCB) route. The project aims to augment transformation capacity and implement line bays at the Mandsaur sub-station for RE interconnection. The project will be executed on a build, own, operate, and transfer (BOOT) basis.
Acquisition of Mandsaur I RE Transmission
Power Grid Corporation of India Limited (POWERGRID) has successfully acquired Mandsaur I RE Transmission Limited (MIRETL) on October 8, 2025. This acquisition was made possible through POWERGRID’s selection as the successful bidder under Tariff Based Competitive Bidding (TBCB).
Project Overview
The project, to be executed by MIRETL, focuses on the “Augmentation of transformation capacity and Implementation of line bays at Mandsaur S/s for RE Interconnection”. The project will be developed on a build, own, operate, and transfer (BOOT) basis.
Project Details and Location
The project includes augmentation works at an under-construction sub-station (Mandsaur PS) in Madhya Pradesh.
Target Entity: Mandsaur I RE Transmission Limited
The target entity acquired is Mandsaur I RE Transmission Limited (MIRETL). POWERGRID had no related party interest in MIRETL prior to the acquisition.
Industry Alignment
The entity being acquired, MIRETL, operates within the power transmission industry, aligning with POWERGRID’s core business.
Strategic Rationale for Acquisition
MIRETL was acquired as POWERGRID emerged as the successful bidder under Tariff Based Competitive Bidding. This acquisition allows POWERGRID to further its involvement in power transmission. The business of MIRETL aligns directly with POWERGRID’s operations.
Required Approvals and Timelines
MIRETL was incorporated on April 16, 2025. POWERGRID acquired MIRETL according to the timelines furnished by the Bid Process Coordinator.
Acquisition Cost
MIRETL has been acquired for an aggregate value of approximately Rs. 7.30 Crore, which includes 10,000 equity shares at par value of Rs. 10 each. The price is subject to adjustments based on the audited accounts of MIRETL as of the acquisition date.
Shareholding and Control
POWERGRID has acquired 100% shareholding and control of MIRETL.
MIRETL Background
MIRETL was incorporated on April 16, 2025, and is yet to commence commercial operations; therefore, no turnover has been recorded in the last three years. MIRETL will be operating in India, focusing on power transmission.
Source: BSE
