Kalpataru Power Transmission (KPTL) has executed Share Purchase Agreement (SPA) to sell its entire stake in Jhajjar KT Transco (JKTPL) to India Grid Trust (IndiGrid) for a total Enterprise Value (EV) of JKTPL at about Rs 310 crore, subject to certain adjustments on account of assets and liabilities at the time of closing of the transaction. The transaction is also subject to requisite approvals and compliances.
JKTPL is a joint venture between KPTL and Techno Electric & Engineering Company (TEECL) wherein KPTL is currently holding 49.72% equity. JKTPL holds the first power Transmission Project secured by KPTL and TEECL on DBFOT basis. The project comprises of three 400 kV power transmission lines and two 400 kV and Sub-stations in state of Haryana.
Kalpataru Power Transmission is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution.
