According to a regulatory filing, infrastructure investment trust PGInvIT would buy shares in different assets of Power Grid Corporation of India Ltd (PGCIL) for Rs 644.15 crore.
The Board of Directors of POWERGRID Unchahar Transmission Ltd, PGInvIT’s investment manager, approved an investment of Rs 644.15 crore for purchasing stakes in PGCIL’s different assets, according to the filing.
The board of directors approved PGInvIT’s acquisition of the remaining 26% equity shareholding in POWERGRID Vizag Transmission Ltd from Power Grid Corporation of India Ltd (POWERGRID) for a consideration of not more than Rs 340 crore, subject to PGInvIT unitholder approval.
