Tata Power receives LoI from REC's subsidiary for acquisition of Ryapte Power SPV, shares down

Tata Power, a leading electric utility and electricity generation company, on Friday, June 19, announced that it has received a letter of intent (LoI) to acquire special purpose vehicle (SPV) Ryapte Power Transmission.

The stock was down 0.47% to ₹401 apiece on the NSE at 11:19 am. The company’s market capitalisation stood at ₹1,28,133.12 crore.

The scrip had hit its 52-week high of ₹464.90 per share on April 28, 2026, while its 52-week low of ₹342.50 apiece was recorded on January 27, 2026.

The stock has gained 1.89% in the past week, while it has declined 3.37% in a month. Year-to-date, it has surged 5.02%.

In an exchange filing, Tata Power said that it has received an LoI from REC Power Development and Consultancy Limited, a wholly-owned unit of REC, for the acquisition of Ryapte Power Transmission, a project SPV. The contract stipulates annual transmission charges of ₹521.07 crore.

The SPV will be developed on a build-own-operate transfer basis to offer transmission services for 35 years from the scheduled commercial operation date, which will be 30 months after the SPV transfer.

The scope of the project includes the construction of around a 250 km line route, comprising a 400 kV D/C line, a 220 kV D/C line and a 220 kV underground region in the following regions:

• 400 kC D/C line from existing Kolar S/s to proposed Doddathaggalli GIS S/s
• 400 kV D/C line from Ryapte AIS Substation to proposed 400/220 kV Doddathaggalli GIS S/s
• 220 kV underground cable from Doddathaggalli GIS S/s to Ekarajapura, Hosakote and Sarjapura s/s
• 220 kV D/C line from the proposed Doddathaggalli GIS S/s to 220 kV existing substation of Ekarajapura, Hosakote and Sarjapura in Karnataka

"In addition, the project scope includes (a) establishing a 5x500 MVA, 400/220 kV S/s at Ryapte in Tumkur District along with 2x125MVAr 400 kV Bus Reactors and (b) establishing a 3X500 MVA, 400/220kV GIS sub-station at Doddathaggalli (Near Hosakote) along with 2x125 MVA, 400 kV Bus Reactors," the regulatory filing said.