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Other Deals

PGCIL transfers remaining 26% stake in PVTL for Rs.331-Cr to PGInvIT

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Power Grid Corporation of India (PGIL) has transferred the remaining 26% of its shareholding in Powergrid Vizag Transmission (PVTL) to infrastructure investment trust PGInvIT for INR 330.78 crore, after the adjustment of the dividend received by the state-owned company from PVTL. Post this transaction, Power Grid has nil shareholding in PVTL. Further, Power Grid has relinquished its right on additional revenue accruing to Power Grid Parli Transmission, Power Grid Warora Transmission, and Power Grid Jabalpur Transmission to PGlnvlT on March 31 for consideration of more than INR 304 crore.