IndiGrid InvIT to buy Jhajjar KT Transco for ₹310 crore

Mumbai: IndiGrid, a listed infrastructure investment trust (InvIT) for power transmission lines, on Friday, said it has executed share purchase agreement for the buyout of power transmission line operator Jhajjar KT Transco Pvt Ltd, for about ₹310 crore, from Kalpataru Power Transmission Ltd and Techno Electric & Engineering Company Ltd.

The transaction is expected to be completed over the next few months, the company said in a statement.

Funded through a mix of debt and internal accruals, the deal will boost IndiGrid’s assets under management (AUM) to about ₹12,300 crore ($1.6 billion). After the deal, its portfolio will increase to 10 power transmission projects with a total network of 23 power transmission lines that span over 6,000 circuit kilometers across 14 states.