India Grid Trust (BSE:540565) entered into an agreement to acquire Khargone Transmission Limited from Sterlite Power Transmission Limited for an enterprise value of INR 14.98 billion on January 21, 2023. The consideration will be paid in cash. The completion of acquisition would depend upon receipt of Unitholders’ consent, regulatory and other relevant approvals as well as completion of contractual obligations. Khargone Transmission Limited recorded a turnover of INR 1.35 billion for the year ended March 31, 2022. As of February 24, 2023. Pursuant to the aforesaid, the Resolution has been approved by the Unitholders of IndiGrid with requisite majority. As on March 2, 2023, India Grid Trust (BSE:540565) acquired 49% stake in Khargone Transmission Limited from Sterlite Power Transmission Limited. The remaining shareholding will be acquired in accordance with the terms of the definitive Agreement. Aishwarya K of Cyril Amarchand Mangaldas acted as legal advisor to India Grid Trust. Gahan Singh and Swathy Ramanath of Khaitan & Co. acted as legal advisor to Sterlite Power Transmission Limited.

India Grid Trust (BSE:540565) completed the acquisition of Khargone Transmission Limited from Sterlite Power Transmission Limited for an enterprise value of INR 15 billion on May 12, 2023.