Power Grid Corp acquires Mohanlalganj Transmission Ltd for Rs 9 cr

State-owned Power Grid Corporation of India Limited (PGCIL) on Tuesday told the media that it has acquired Mohanlalganj Transmission Limited (MTL) for over Rs 9 crore in Uttar Pradesh. Established in June 2021, Mohanlalganj Transmission Limited (MTL) is the project Special purpose vehicle (SPV) to set up an intra-state transmission system, PGCIL said in a Bombay Stock Exchange (BSE) filing. It is said that PGCIL, according to its selection as the successful bidder under tariff-based competitive bidding, has on May 30, 20. The Mohanlalganj Transmission Limited has acquired an aggregate value of around Rs 9.11 crore, including 10,000 equity shares along with assets and liabilities of the firm as of the acquisition date. MTL is employed in the business of power transmission. Power Grid Corporation of India Limited is headquartered in Gurugram and is an Indian statutory corporation under the Ministry of Power, Government of India (GoI) jurisdiction. It is engaged primarily in the transmission of bulk power across various states of India. Power Grid transmits approximately 50% of the total power produced in India on its transmission network system. Image Source Also read: Power Grid Corp approves investment of Rs 821.29 cr in 5 projects