RInfra completes stake sale in Parbati Koldam to IndiGrid

Reliance Infrastructure Limited (RInfra) has completed the 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 9 billion. ….

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 the transfer of shares of PKTCL, and receipt of sale consideration. The entire sale proceeds are being utilised for debt reduction. Additionally, RInfra has reduced its total debt liabilities by 6 per cent from the deal proceeds