Home / Companies / News /  PGCIL transfers remaining 26% stake in Powergrid Vizag Transmission for over 330 cr

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.

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout