Power Grid Corp acquires Kakinada I Transmission Ltd under TBCB route

What Power Grid announced

Power Grid Corporation of India Limited ("Power Grid" or "the Company") filed a notice with the National Stock Exchange (NSE) on 29 June 2026, informing the market of its intention to acquire Kakinada I Transmission Limited ("Kakinada I Transmission"). The acquisition will be carried out under the Transmission Business Combination (TBCB) route, a mechanism that allows transmission assets to be transferred to a listed entity.

Details of the acquisition

The filing, titled Acquisition of Kakinada I Transmission Limited by POWERGRID under TBCB route, does not disclose the purchase price, share exchange ratio, or any other financial consideration. It merely states the intent to acquire the target company and indicates that the transaction will be effected through the TBCB framework, which is governed by the Securities and Exchange Board of India (SEBI) guidelines for business combinations involving transmission assets.

About the TBCB route

The Transmission Business Combination (TBCB) route is a specific route under SEBI’s business combination regulations that facilitates the acquisition of transmission assets by listed transmission companies. Under this route, the target’s assets are transferred to the acquiring listed entity, subject to approvals from the board of directors, shareholders, and relevant regulatory authorities, including the Central Electricity Regulatory Commission (CERC) and SEBI.

Key facts at a glance

Why this matters for investors

The acquisition expands Power Grid’s asset base in the transmission segment, potentially enhancing its network coverage and revenue streams in the future. Since the deal is being pursued under the TBCB route, it will require multiple regulatory clearances before completion, which could affect the timing of any impact on the Company’s balance sheet. Investors should monitor subsequent filings for details on consideration, share issuance, and any dilution effects.

Conclusion

Power Grid has formally announced its intention to acquire Kakinada I Transmission Ltd via the TBCB mechanism, but the filing does not provide financial specifics. Completion of the transaction will depend on board approvals, shareholder consent, and regulatory clearances. Further disclosures are expected as the process advances.