PGCIL transfers residual equity in Powergrid Vizag Transmission for Rs 3.30 billion

Power Grid Corporation of India Limited (PGCIL) has transferred the remaining of its shareholding in Powergrid Vizag Transmission Limited (PVTL) to infrastructure investment trust PGInvIT after the adjustment of the dividend received by the state-owned company from PVTL.

PGCIL held the remaining 26 per cent stake in PVTL which it transferred on March 31, 2022, for a consideration of over Rs 3.30 billion.With this, PGCIL has nil shareholding in PVTL. Further, PGCIL has relinquished its right on additional revenue accruing to Power Grid Parli Transmission Limited, Power Grid Warora Transmission Limited, and Power Grid Jabalpur Transmission Limited to PGlnvlT for consideration of over Rs 3.04 billion.

GET ACCESS TO OUR ARTICLES

Enter your email address