POWERGRID acquires Jam Khambhaliya REZ transmission SPV for ₹19.22 crore
As filed · Power Grid Corporation of India Limited has informed the Exchange about Acquisition of Jam Khambhaliya REZ Transmission Limited by POWERGRID under TBCB route.
What happened
FactPOWERGRID acquired 100% of Jam Khambhaliya REZ Transmission Limited on 12.10.2026 after winning a tariff-based competitive bid. The SPV will develop transmission infrastructure for integration of 5,500 MW of renewable power in Jam Khambhaliya REZ Phase II and 1,000 MW in Jamnagar Phase I, including a new GIS substation, augmentation works and 765 kV lines in Gujarat.
Why it matters
CapitSignal interpretationAn acquisition spends cash or issues shares today for earnings that arrive later, so the price paid and the funding route decide whether holders gain.
Scale
- 0.0% of FY26 revenue
₹19.22 Cr stated in the filing against ₹40,904.2 Cr revenue (FY26, standalone)
Source: financial_facts · exchange_table
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Capex
RevisedSo, we have ₹1,95,000 worth projects which are to be commissioned in next 3-4 years.
Last year, sorry, last meet, we have given ₹28,000 crores for FY26. We are increasing it to ₹32,000 crores as I told and for FY27, CapEx will be ₹37,000 crores. In FY28, it will be ₹45,000 crores.
Change
FactImplication
CapitSignal interpretationCapex
RevisedLast year, sorry, last meet, we have given ₹28,000 crores for FY26. We are increasing it to ₹32,000 crores as I told and for FY27, CapEx will be ₹37,000 crores. In FY28, it will be ₹45,000 crores.
Capitalization, FY27, will be ₹30,000 crores and FY28, it will be ₹35,000 crores.
Change
FactImplication
CapitSignal interpretationCapex
RevisedCapital work in progress, it has increased from ₹29,000 crores to ₹50,000 crores work in progress.
So, we have ₹1,95,000 worth projects which are to be commissioned in next 3-4 years.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Consideration and how it is funded
- Revenue and profit of the target
- Expected completion date
- our capitalization for this financial year is going to be more than Rs 25,000 crores. (management committed by FY26)
- we have revised our Capex guideline to Rs. 32,000 crore. (management committed by FY26)
Evidence
- Power Grid Corporation of India Limited has informed the Exchange about Acquisition of Jam Khambhaliya REZ Transmission Limited by POWERGRID under TBCB route.(opens the original filing in a new tab)
- Earlier statement · Q3 FY25
- Latest statement · Q3 FY25
- Earlier statement · Q3 FY25
- Latest statement · Q3 FY25
- Earlier statement · Q3 FY25
- Latest statement · Q3 FY25
How CapitSignal classified this
- Reasoning:
- The acquisition adds a transmission project SPV in POWERGRID's core business and supports grid integration for the stated renewable-energy capacity in Gujarat. The final acquisition price may change after audited accounts are finalized.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%