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PGInvIT to Acquire Stake in PGCIL for Rs 644 cr

PGInvIT will acquire stakes in various assets of Power Grid Corporation of India (PGCIL) for Rs 644.15 crore.

 

The Board of Directors of POWERGRID Unchahar Transmission - the investment manager to PGInvIT has approved an investment of Rs 644.15 crore for acquiring a stake in various assets of PGCIL.

 

The board approved the acquisition of balance 26 percent equity shareholding of POWERGRID Vizag Transmission by PGInvIT from Power Grid Corporation of India (POWERGRID) at a consideration not exceeding Rs 340 crore, subject to the approval of the unitholders of PGInvIT.

 

It also approved the acquisition by the PGInvIT, through its special purpose vehicles (SPVs) namely POWERGRID Parli Transmission, POWERGRID Warora Transmission and POWERGRID Jabalpur Transmission.

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