PGCIL transfers 26% stake in Powergrid Vizag Transmission for Rs 330 cr

State-owned Power Grid Corporation of India (PGCIL) has transferred its remaining 26 per cent stake shareholding in Powergrid Vizag Transmission Ltd to infrastructure investment trust PGlnvlT for a consideration of about Rs 330 crore.

Also, the company has relinquished its right of additional revenue in its subsidiaries

in favour of PGInvIT against a consideration of about Rs 304 crore.

“Power Grid has transferred balance 26 per cent equity shareholding of Power Grid Vizag Transmission Ltd (PVTL) to PGlnvlT on 31st March, 2022, at a consideration of Rs 330,78,44,638 after adjustments of dividend received by Power Grid from PVTL. With this, Power Grid has nil shareholding in PVTL,” a BSE filing said.