Power Grid and Reliance Infra formed a JV named PKTCL where the state-owned company holds 26% stake in the JV and the remaining 74% is held by the Anil Ambani-backed company.
Power Grid said that the Termination Agreement has been executed on January 12, 2021.
Earlier this month, Reliance Infra completed the sale of its entire 74% equity stake in PKTCL to India Grid Trust (IndiGrid). The stake sale was carried for an enterprise value of Rs900cr.
At around 2.37 pm, Power Grid was trading at Rs204.60 per piece flat compared to the previous trading session on Sensex.