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).
