State-owned Power Grid Corporation of India (PGCIL) said on Tuesday it had acquired Mohanlalganj Transmission Limited in Uttar Pradesh for more than Rs 9 crore.

In its BSE filing, PGCIL said Mohanlalganj Transmission Limited (MTL) was established in June 2021 as an SPV (Special Purpose Vehicle) project to build an intrastate transmission system.

“It has been reported that PGCIL has been selected as the winning bidder for the tariff-based MTL takeover on May 30, 2022,” it added.

• Larsen and Toubro Subsidiary Plans to Sell Nabha Power for Rs 3,661 Crore 
• Singapore Flights to Cost More Over SAF Levy
• Anthropic Opens Bengaluru Office, Expands India Partnerships
• Bill Gates Meets N. Chandrababu Naidu Ahead of AI Summit
• Arkade Developers Shares Gain 1% on Project in Mumbai 

The total value of the entity’s acquisition is approximately Rs 911 crore, including 10,000 equity shares and company assets and liabilities as of the acquisition date. MTL is in the electricity transmission business.