India Grid Trust consortium completes acquisition of Kallam Transmission Ltd

The consortium of IndiGrid 1 Limited and IndiGrid 2 Limited (wholly-owned subsidiaries of India Grid Trust) ("the Consortium") has completed the acquisition of 100% paid-up capital and management control of Kallam Transmission Limited ("Kallam") from REC Power Development and Consultancy Limited on December 28, 2021.

The acquisition of aforesaid power transmission asset is in line with IndiGrid's investment strategy as provided in the Trust Deed with a focus to ensure stable distribution to unitholders by owning assets with long-term contracts.

The Consortium has acquired 100% paid-up equity share capital and management control of Kallam.

Kallam was incorporated on May 28, 2020. Kallam was incorporated for the development of a new 400/220kV Substation at Kallam and 400kV Multi circuit Transmission Line works in the state of Maharashtra.

Shares of India Grid Trust was last trading in BSE at Rs. 148.00 as compared to the previous close of Rs. 149.39. The total number of shares traded during the day was 20643 in over 141 trades.

The stock hit an intraday high of Rs. 149.80 and intraday low of 145.01. The net turnover during the day was Rs. 3037371.00.

Source : Equity Bulls

Keywords

IndiaGridTrust IndiGrid InvIT INE219X23014 KallamTransmission Acquisition