Tata Power acquires Paradeep Transmission for Rs 186.4 Mn
Tata Power said it has acquired 100% stake in Paradeep Transmission Ltd, a special purpose vehicle (SPV), for Rs 186.4million. The acquisition process was completed on November 6, 2024, the company said in a regulatory filing. According to the filing, Tata Power has signed the Share Purchase Agreement (SPA) and has acquired 100% equity stake in Paradeep Transmission Ltd. The acquisition involves purchase of equity against cash consideration and one-time settlement of outstanding debt.The cost of acquisition was Rs 186.4 billion, it stated.
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