Kalpataru may sell 4 transmission lines to Adani; Netmeds likely to raise funding

By Narinder Kapur

  • 09 May 2019
Credit: Pexels

Kalpataru Power Transmission Ltd is in discussions to sell four of its energy-transmission lines to Adani Transmission, two people in the know told Mint, asking not to be named.

A deal with the Adani Group firm, if it happens, could be valued between Rs 1,400 crore ($200.4 million at current exchange rate) and Rs 1,500 crore ($214.7 million at current exchange rate), one of the people said. Two of the lines operational are: a 100 kilometre-long one in Jhajjar (Haryana) and a 240 kilometre-long one in Satpura Range of hills (Madhya Pradesh). The other two under-construction lines are: the Alipurduar one for power transmission to Bhutan and the Kohima-Mariani one for improving the north-eastern electric grid.

In April, The Economic Times had reported that Sekura Energy Ltd and CLP (formerly known as China Light & Power) were also in talks to purchase Kalpataru’s assets.

News of talks with Adani Transmission, the largest private-sector power transmission company in India, comes more than a month after Kalpataru signed a deal to acquire an 85% stake in Linjemontage I Grastorp AB, a Swedish engineering and construction firm.

Kalpataru is a part of infrastructure-focused Kalpataru Group. The firm, engaged in global power transmission and engineering, procurement and construction, operates in more than 50 countries.


Online pharmacy Netmeds Marketplace Ltd has roped in financial services company Credit Suisse to help it raise $100 million (Rs 699 crore at current exchange rate), three persons told Mint, asking not to be named.

In September last year, Netmeds had raised $35 million (Rs 247 crore then) in a Series C funding round led by Singapore-based Daun Penh Cambodia Group and joined by previous investors Sistema Asia Fund, the venture capital arm of Russian conglomerate Sistema JSFC, and Tanncam Investment, a Cambodian investment holding company.

Apart from over-the-counter and prescription medicines, Netmeds also sells personal-care products, medical devices and accessories for infants.

Piramal Enterprises

Piramal Enterprises Ltd is in talks with PTC India Ltd to acquire 290 megawatts worth of wind energy assets from its subsidiary, PTC Energy Ltd, persons in the know told The Financial Express. The potential deal – estimated to be worth Rs 2,200 crore ($314 million at current exchange rate) – will see the Piramal Group acquiring PTC India’s wind-energy assets across Andhra Pradesh, Karnataka and Madhya Pradesh, the report said.

In the last three years, Piramal Enterprises has invested in companies such as ReNew Power Ltd and ACME Solar. On Tuesday, the company signed a deal with the Canada Pension Plan Investment Board to co-sponsor a renewable energy-focused Infrastructure Investment Trust. The InvIT will have an initial corpus of $600 million (Rs 4,160 crore), Piramal had said in a statement.

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