India Grid completed the acquisition of Jhajjar KT Transco from Kalpataru Power and Techno Electric for $41m.

India Grid, an InvIT, completed the acquisition of Jhajjar KT Transco, a provider of infrastructure construction services, from power generation and supply companies Kalpataru Power and Techno Electric, for $41m. “This transaction is a major milestone and example of an accretive capital allocation process that KPTL has employed over the past several years. We are also progressing well on sale of other T&D assets and expect to close the same in FY21. Divestment of T&D assets will strengthen our EPC business and will allow us to focus on growth opportunities and deliver value to our shareholders. KPTL remains committed to its target of being a debt free company by FY 2021 and build a robust EPC business,” Manish Mohnot, KPTL Managing Director & CEO.