G R Infraprojects Limited has completed the acquisition of Bijapur REZ Transmission Limited (BRTL) from PFC Consulting Limited. The transaction, executed under a share purchase agreement, makes BRTL a wholly owned subsidiary of the company.
BRTL, incorporated on June 28, 2024, has an authorized and paid-up share capital of ₹1 lakh, divided into 10,000 equity shares of ₹10 each. The acquisition involved a cash consideration of ₹11.4 crore, covering the entire shareholding through the company and its six nominees.
The acquisition is linked to the execution of a transmission project for integrating the Bijapur Renewable Energy Zone (REZ) in Karnataka. The project includes the establishment of a 400/220 kV pooling station near Bijapur, along with associated transmission lines and bus reactors. This infrastructure aims to enhance power transmission capacity in the region.
According to G R Infraprojects, the acquisition aligns with the conditions set forth in the Request for Proposal (RFP) for the project. No related party transactions or interests of the promoter group were involved in the acquisition.
BRTL operates in the power transmission sector and does not yet have a financial turnover, as it was incorporated during the current fiscal year.