Power Grid board clears sale of entire CTUIL equity to GRID-INDIA for ₹73.46 crore initial payment

Power Grid Corporation of India's board approved the sale of its entire equity holding in Central Transmission Utility of India Limited to Grid Controller of India Limited for an initial payment of ₹73.46 crore, subject to a true-up adjustment. ScanX reported the approval followed a board meeting on November 1, 2026.

Power Grid is the transmission utility whose board cleared the divestiture. CTUIL is a wholly owned subsidiary of Power Grid and is the entity being transferred.

Power Grid's CTUIL Sale Terms

The purchase price has two parts: an initial payment and a true-up amount. The initial payment was calculated by adjusting CTUIL's net asset value against specified liability deductions. The net asset value was ₹76.85 crore as of September 30, 2026, and specified liability deductions were ₹3.39 crore, leaving the ₹73.46 crore initial payment.

A true-up amount will be determined from a fresh valuation covering the period from September 30, 2026 to the closing date. The closing date falls within three months from the signing of the Share Purchase Agreement. Power Grid said the transfer aims to consolidate transmission sector assets under the national grid controller framework.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Power Grid said details specified under the SEBI Master Circular dated January 30, 2026 will be informed in due course upon completion of the entire transaction.

GRID-INDIA warned on October 16, 2026 that India's growing data centre capacity could destabilise the power grid through sudden exits during transmission faults, according to Business News Today.

Power Grid's Transmission Deals Before the CTUIL Sale

On October 12, 2026, REC Power completed the sale of two transmission subsidiaries, Jam Khambhaliya Jamnagar Power Transmission and Lakadia II Power Transmission, to Ceigall India and Power Grid Corporation of India, SolarQuarter reported.

Power Grid received a letter of intent on October 16, 2026 for the Pune West transmission project in Maharashtra on a BOOT basis for ₹199.55 crore, CNBC TV18 reported.

On October 23, 2026, Power Grid commissioned the Renewable Energy Zone transmission scheme in Karnataka, covering the Koppal-II and Gadag-II regions, ScanX reported.

CTUIL Transfer Closing Window

The closing date falls within three months from the signing of the Share Purchase Agreement, and the true-up valuation covers September 30, 2026 to that closing date. Power Grid said the SEBI Master Circular details will be informed upon completion of the entire transaction.