IndiGrid To Acquire Gadag Transmission For Rs 3.72bn

09 Dec 2025 CW Team

The project is currently owned by ReNew Transmission Ventures Private Ltd (RTVPL) with a 51 per cent stake and KNI India AS with 49 per cent—KNI being a joint venture between Norfund and KLP. Following completion, IndiGrid will assume full ownership and management control in line with the definitive and concession agreements, including lock-in provisions.

Managing Director Harsh Shah said the acquisition aligns with IndiGrid’s strategy to operate critical grid assets supporting India’s clean-energy transition. “Gadag Transmission plays a pivotal role in evacuating renewable energy from one of the country’s largest solar zones,” he said.

The acquisition will be financed through equity, internal accruals and debt. Post-transaction, IndiGrid’s net debt-to-AUM ratio will stand at 60.5 per cent, providing capacity for future expansion. Shares of IndiGrid Infrastructure Trust closed at Rs 168.50, up Rs 0.05 or 0.03 per cent.

Infrastructure Urban

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