Tata Power Company Limited has signed share purchase agreement and  acquired a 100 per cent equity stake in Bikaner III Neemrana II Transmission Limited, a special purpose vehicle (SPV).
The acquisition process was completed for Rs 186 million. The SPV, Â formed in June 2023 will build, own, operate, and transfer electrical power transmission systems between Bikaner and Neemrana in Rajasthan. It involves the purchase of equity against a cash consideration and a one-time settlement of the outstanding debt.