Power Grid Corp shares gain 3% as board approves merger of 28 subsidiaries; all you need to know

This comes as the Maharatna PSU’s board of directors, at its meeting held on Thursday, March 19, accorded approval for the merger or amalgamation of 28 of its wholly owned subsidiaries into two other wholly owned subsidiaries, it said in a regulatory filing.

The announcement was an amendment to an earlier approval. In an earlier meeting held on December 20, 2025, the company’s board of directors had approved the amalgamation or merger of 11 subsidiaries into two other wholly owned subsidiaries.

The proposed scheme of merger is subject to the approval from statutory, regulatory, government authorities or institutions as may be applicable or required, it added.

The electric power transmission aims to consolidate its business by creating larger unified entities through the proposed merger.

Furthermore, it aims to reduce the number of entities within the group for achieving operational and management efficiencies, simplify administrative tasks, and have a simplified organisational structure.

Board approves ₹705 crore investment

In a regulatory filing dated March 19, Power Grid Corp stated that its board of directors also approved an investment worth ₹705.30 crore for the procurement of cold spare transformers and reactors.

It further added that the investment is scheduled to be implemented within 30 months from the date of approval.

Power Grid Corp stock performance

Shares of Power Grid Corp were trading 0.52% higher at ₹298.25 apiece at around 3:02 PM.

The scrip has lost about 0.4% in the past week but gained 0.2% over the month. On a year-to-date (YTD) basis, it has advanced more than 12%.

While the stock touched a 52-week low of ₹250 on February 2, 2025, it hit a year’s high of ₹322 per equity share on April 21, 2025.

Power Grid Corporation of India has a total market capitalisation of ₹2.77 lakh crore, as of March 20, 2026, according to data on the NSE.