India Grid Trust (BSE:540565) entered into definitive agreement to acquire 1.3% stake in Jhajjar KT Transco Private Limited from Klassik Vinyl Products LLP on May 29, 2020. Under the terms of consideration, Consideration will be paid in cash. In related transaction, India Grid Trust (BSE:540565) entered into definitive agreements to acquire remaining 98.68% stake in Jhajjar KT Transco Private Limited from Kalpataru Power Transmission Limited (BSE:522287) and Techno Electric & Engineering Company Limited on May 29, 2020. The estimated enterprise value is INR 3.1 billion. Total Consideration is subject to certain adjustments on account of assets and liabilities at the time of closing of the transaction. Transaction will be funded through a combination of debt and internal accruals. During the FY 2019-20 Jhajjar KT Transco Private Limited has total revenue of INR 390 million and total net worth of INR 1.1 billion. The transaction is also subject to requisite regulatory approvals and compliances as the approval from Haryana Vidyut Prasaran Nigam Limited has to be obtained for the aforesaid acquisition. The acquisition, expected to be consummated over next couple of months. The transaction is expected to be accretive for India Grid Trust. JM Financial Limited acted as financial advisor and Cyril Amarchand and Mangaldas as legal advisors to IndiGrid for this transaction.