Business

Reliance Infra completes sale of entire 74 pc shareholding in Parbati Koldam Transmission Company Limited to India Grid Trust

Reliance Infrastructure Limited (RInfra) on Saturday announced the successful completion of sale of its entire 74 per cent equity stake in Parbati Koldam Transmission Company Limited (PKTCL) to India Grid Trust (IndiGrid) for an enterprise value of Rs 900 crore.

migrator

New Delhi

RInfra owns 74 per cent in PKTCL located in the state of Himachal Pradesh and Punjab in joint venture with the Power Grid Corporation of India Limited (PGCIL). 

The deal was announced in November 2020 with the signing of a definitive binding agreement between RInfra and IndiGrid and has now been completed with transfer of shares of PKTCL, and receipt of sale consideration. 

IndiGrid (BSE: 540565, NSE: INDIGRID) is India's first power sector Infrastructure Investment Trust, owning AAA rated power transmission assets in India. 

With this acquisition, IndiGrid owns 12 operating power transmission assets with a total AUM of over Rs 14,500 crore. 

The total transaction value is Rs 900 crore. The entire sale proceeds are being utilised for debt reduction. 

RInfra has reduced its total debt liabilities by 6 per cent from the deal proceeds.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

Also Read

Three Bills to tweak women's quota law, set up delimitation panel introduced in Lok Sabha

Women quota law: Voting on 3 bills in LS to be held at 4 PM on Friday

DMK’s delimitation protests is driven by fear of defeat, says EPS

Plea in Madras High Court alleges NaMo app fund scam; seeks action against JP Nadda, Amit Malviya

DMK burns copy of delimitation bill, raises black flags across State