Reliance Infrastructure said it has completed the sale of its entire 74 per cent stake in PKTCL to India Grid Trust for ₹900 crore. The proceeds will be utilised for debt reduction, and the company s dues will come down by 6 per cent to ₹13,100 crore from ₹14,000 crore
RInfra completes stake sale in PKTCL to IndiGrid
January 09, 2021
Reliance Infrastructure Ltd (RInfra) has completed the sale of its entire equity stake in Parbati Koldam Transmission Company Limited (PKTCL) to India Grid Trust (IndiGrid) for an enterprise value of ~₹900 crore.
RInfra owns 74 per cent in PKTCL located in Himachal Pradesh and Punjab in joint venture with 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 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 ₹14,500 crore.
Reliance Infrastructure on Saturday said it has completed the sale of its entire 74 per cent stake in PKTCL to India Grid Trust for Rs 900 crore. The proceeds will be utilised for debt reduction, and the company s dues will come down by 6 per cent to Rs 13,100 crore from Rs 14,000 crore. Reliance Infrastructure Limited (RInfra) announces the successful completion of 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 900 crore, the company said in a statement.
RInfra owned 74 per cent stake in Parbati Koldam Transmission Company Limited located in Himachal Pradesh and Punjab in a joint venture with Power Grid Corporation of India Limited (PGCIL).