Acquisition

Dt. 12.10.2026 To To The General Manager (Listing), The General Manager (Listing), National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, C 1/G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai. Bandra (East), Mumbai. Reference: NSE-SCRIP ID: POWERGRID; BSE Scrip Code: 532898 EQ – ISIN: INE752E01010 Sub.: Acquisition of Lakadia II Power Transmission Limited by POWERGRID under TBCB route. Dear Sir, In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that Power Grid Corporation of India Limited, pursuant to its selection as the successful bidder under Tariff based competitive bidding, has on 12.10.2026 acquired Lakadia II Power Transmission Limited, the Project SPV to establish Inter-State Transmission system for the project namely “Transmission system for Integration of Power from RE Projects in Lakadia REZ in Gujarat-Phase 11 (7500MW)”, on build, own, operate and transfer (BOOT) basis from the Bid Process Coordinator – REC Power Development and Consultancy Limited (RECPDCL). The project comprises establishment of new 765/400kV Lakadia-II Sub-station in the state of Gujarat. Further, the project involves construction of 765kV transmission lines traversing through the state of Gujarat along with the associated equipment and bays. The project also involves installation & commissioning of Synchronous condenser at Lakadia-II Sub-station. The other information as per relevant provisions of SEBI Master Circular dt. 30.01.2026 are as under: Sl.No. Information Details 1. Name of the target entity, details in brief Lakadia II Power Transmission Limited such as size, turnover etc.; 2. Whether the acquisition would fall within No. related party transactions and whether the Prior to acquisition, POWERGRID had no interest as regards promoter/ promoter group/ group related party transaction. companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is d one at "arm's length"; 3. Industry to which the entity being acquired Power Transmission belongs; 4. Objects and impact of acquisition (including Lakadia II Power Transmission Limited has been acquired by but not limited to, disclosure of reasons for POWERGRID pursuant to POWERGRID emerging as the acquisition of target entity, if its business is successful bidder under Tariff Based Competitive Bidding. outside the main line of business of the Lakadia II Power Transmission Limited is engaged in the listed entity); business as that of POWERGRID i.e. transmission of power. 5. Brief details of any governmental or Lakadia II Power Transmission Limited was incorporated on regulatory approvals required for the 09.05.2026 by the Bid Process Coordinator as per the acquisition; “Guidelines Encouraging Competition in Development of Transmission Projects” and “Tariff based Competitive Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI0381 21 Website: www.powergrid.in bidding Guidelines for Transmission Service” notified by Ministry of Power (MoP). Requisite approvals were obtained by the Bid Process Coordinator for transfer of Lakadia II Power Transmission Limited. Approvals for Grant of Transmission License and Adoption of Transmission Charges are to be obtained from Central Electricity Regulatory Commission by Lakadia II Power Transmission Limited after the acquisition by POWERGRID. 6. Indicative time period for completion of the Lakadia II Power Transmission Limited was acquired as per acquisition; the timelines furnished by Bid Process Coordinator. 7. Consideration - whether cash consideration or share swap or any other form and detail Cash consideration as detailed at S. No. 8 below. of the same; 8. Cost of acquisition and/or the price at which Lakadia II Power Transmission Limited was acquired for an the shares are acquired; aggregate value of about Rs. 18.43 Crore including 50,000 equity shares at par at Rs. 10/- each along with assets and liabilities of Lakadia II Power Transmission Limited as on the acquisition date (12.10.2026). However, the acquisition price is subject to adjustment as per the audited accounts of the Company as on the acquisition date. 9. Percentage of shareholding / control 100% acquired and / or number of shares acquired; and 10. Brief background about the entity acquired Lakadia II Power Transmission Limited shall be engaged in in terms of products/line of business the business of transmission of power. acquired, date of incorporation, history of last 3 years turnover, country in which the Lakadia II Power Transmission Limited was incorporated on acquired entity has presence and any other 09.05.2026 by Bid Process Coordinator. Lakadia II Power significant information (in brief). Transmission Limited is yet to start commercial operation, as such no turnover has been recorded during last 3 years. Lakadia II Power Transmission Limited will be operating in India. Thanking You, Yours faithfully, (Anjana Luthra) Company Secretary & Compliance Officer Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI0381 21 Website: www.powergrid.in