Tata Power signs agreement and acquire 100 per cent stake in Bikaner III Neemrana II Transmission

Tata Power Company Limited has signed share purchase agreement and acquired a 100 per cent equity stake in Bikaner III Neemrana II Transmission Limited, a SPV. The acquisition process was completed for Rs 186 million. The SPV, formed in June 2023 will BOOT electrical power transmission systems between Bikaner and Neemrana in Rajasthan. It involves the purchase of equity against a cash consideration and a one-time settlement of the outstanding debt.