POWERGRID has approved the sale and transfer of its entire equity shares in Central Transmission Utility of India Limited (CTUIL), a wholly-owned subsidiary, to Grid Controller of India Limited (GRID-INDIA). The transaction is based on an initial payment of ₹73.46 crore, adjusted for Net Asset Value and specified liability deductions, with a further true-up amount to be determined. This move signifies a restructuring of assets within government entities.
POWERGRID Approves Sale of CTUIL Stake
In a significant strategic move, the Board of Directors of Power Grid Corporation of India Limited (“POWERGRID”) has accorded its approval for the sale and transfer of its entire equity shares held in its wholly-owned subsidiary, Central Transmission Utility of India Limited (“CTUIL”). The buyer in this transaction is Grid Controller of India Limited (“GRID-INDIA”), another entity operating under the government umbrella.
Transaction Details and Valuation
The sale is set to occur at a purchase price that comprises two components. The first is an initial payment of ₹73.46 crore. This figure has been arrived at after adjusting the Net Asset Value of ₹76.85 crore as of the valuation date, September 30, 2026, with specified liability deductions amounting to ₹3.39 crore. The second component is a true-up amount, which will be determined based on the valuation for the period from the valuation date up to the closing date of the transaction. The closing date is expected to fall within three months from the signing of the Share Purchase Agreement (SPA).
Disclosure and Next Steps
Further details pertaining to this transaction, as specified under the SEBI Master circular dated January 30, 2026, will be communicated in due course, following the completion of the entire transaction. This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
Source: BSE
