Reliance Infrastructure Restricted (RInfra) on Saturday mentioned it has accomplished the sale of its whole 74 per cent fairness stake in Parbati Koldam Transmission Firm Restricted (PKTCL) to India Grid Belief (IndiGrid) for an enterprise worth of Rs 900 crore.
RInfra owned 74 per cent in Parbati Koldam Transmission Firm Restricted (PKTCL) situated within the state of Himachal Pradesh and Punjab in a three way partnership with Energy Grid Company of India Restricted (PGCIL).
The deal, which was introduced in November 2020, has now been accomplished with the switch of shares of PKTCL and receipt of sale consideration, mentioned a press launch from the corporate.
IndiGrid is India’s first infrastructure funding belief within the energy sector, proudly owning AAA-rated energy transmission property. With this acquisition, IndiGrid owns 12 working energy transmission property with a complete AUM of over Rs 14,500 crore. The whole sale proceeds of Rs 900 crore will probably be utilised for debt discount.
RInfra has diminished its complete debt liabilities by 6 per cent from the deal proceeds.