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Tata Power Company Ltd. Pursuant to Regulation 30 of the Securities and Exchange Board of India...

Posted: 15 Nov 2024

Tata Power Company Ltd. Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (�Listing Regulations�) and in continuation to our letter dated October 17, 2024, we wish to inform that The Tata Power Company Limited has signed the Share Purchase Agreement (�SPA�) and acquired 100% equity stake in ERES-XXXIX Power Transmission Limited ("ERES-XXXIX "), a special purpose vehicle ("SPV"). The details pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 (�SEBI Circular�) are as follows: Sl. No. Particulars Description 1. Name of the target entity, details in brief such as size, turnover, etc. ERES-XXXIX Power Transmission Limited ("ERES-XXXIX") was set up as a SPV to BuildOwn-Operate Transfer basis, to provide transmission service. 2. Whether the acquisition would fall within related party transaction(s) and whether the promoter/prompter group/group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at �arm�s length� No 3. Industry to which the entity being acquired belongs Power/Transmission 4. Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity) To establish and operate Build-Own-OperateTransfer basis for providing transmission service. 5. Brief details of any governmental or regulatory approvals required for the acquisition Approval has been received from Ministry of Power for share transfer of ERES-XXXIX. 6. Indicative time period for completion of the acquisition Acquisition process completed on November 14, 2024. 7. Consideration - whether cash consideration or share swap or any other form and details of the same The acquisition involves purchase of equity against cash consideration. 8. Cost of acquisition or the price at which the shares are acquired ? 18.56 crore 9. Percentage of shareholding/control acquired and/or number of shares acquired 100% equity stake in ERES-XXXIX. 10. Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief); The Company is a SPV formed in March 27, 2024, specifically to establish the transmission system for ERES-XXXIX Power Transmission Limited (Gopalpur, Odisha) which comprises Angul to Gopalpur ~190 km of 765 KV D/C line, Gopalpur 765/400 KV GIS substation, Bay Ext. at Angul (765 KV AIS) and at OPTCL-Gopalpur (400 KV GIS S/s to be developed by OPTCL). Also, there is a ~12 km of 400 KV D/C line from OPTCL (Gopalpur) 400 KV GIS S/s to Gopalpur 765 KV GIS S/s. The schedule date of commercial operation (SCOD) of the said SPV will be on December 31, 2027.