The acquisition, completed on 4 June 2025, was made under tariff-based competitive bidding as part of the transmission system for evacuating power from Mahan Energen’s generating station in Madhya Pradesh.

The deal includes 10,000 equity shares at face value, along with MPTL’s assets and liabilities as on the acquisition date. The final acquisition cost is subject to adjustments based on the audited financials of MPTL.

The transmission project involves the establishment of a 400 kV double circuit transmission line and associated bays at the Rewa PowerGrid substation. It will be developed on a Build, Own, Operate, and Transfer (BOOT) basis.

MPTL, incorporated on 19 November 2024, by PFC Consulting (PFCCL) — the designated bid process coordinator — has not yet commenced operations and has reported no turnover. The company is aligned with PowerGrid’s core transmission business and was acquired following PowerGrid’s successful bid for the project.

The acquisition is not classified as a related party transaction, and PowerGrid held no prior interest in MPTL. Regulatory approvals for the grant of a transmission licence and adoption of transmission charges will be sought from the Central Electricity Regulatory Commission following the acquisition.

Before this deal, neither Power Grid nor its promoter group held any interest in MPTL, the company informed.

The Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. The firm is a Maharatna' company under the Ministry of Power, GoI. As of 31 March 2025, the Government of India owned a 51.34% stake in the company.

The company’s consolidated net profit fell marginally to Rs 4,142.87 crore in Q4 FY25 as against Rs 4,166.33 crore posted in Q4 FY24. However, revenue from operations rose 2.48% YoY to Rs 12,275.35 crore recorded in the quarter ended 31 March 2025.