POWERGRID expands subsidiary merger plan to 28 SPVs
Power Grid Corporation of India Limited (POWERGRID) has approved an expanded consolidation of its subsidiaries, with 28 wholly owned subsidiaries to be merged into two existing wholly owned entities. The decision was taken at a board meeting on March 19, 2026, replacing an earlier, smaller proposal. The consolidation programme began in December 2025, when the board approved the merger of 11 subsidiaries into two entities. These subsidiaries were project-specific special purpose vehicles (SPVs) formed under…