Power Grid Corporation of India (PGIL) has transferred the remaining of its shareholding in Powergrid Vizag Transmission (PVTL) to infrastructure investment trust PGInvIT after the adjustment of the dividend received by the state-owned company from PVTL.
Power Grid held the remaining 26% stake in PVTL which it transferred on March 31, 2022, for a consideration of over ₹330.78 crore.
With this, Power Grid has nil shareholding in PVTL.
Further, Power Grid has relinquished its right on additional revenue accruing to Power Grid Parli Transmission, Power Grid Warora Transmission, and Power Grid Jabalpur Transmission to PGlnvlT on March 31 for consideration of more than ₹304 crore.
On BSE, today, Power Grid shares witnessed positive sentiments. Power Grid shares closed at ₹224.95 apiece up by 3.7%. The shares touched a new 52-week high of ₹225.70 apiece earlier in the day.
the App to get 14 days of unlimited access to Mint Premium absolutely free!