PGInvIT enters into a Rs700Cr facility with HDFC Bank; stock adds ~1%

31 Mar 2022 , 11:21 AM

Powergrid Infrastructure Investment Trust (PGInvIT) has informed that its investment manager Powergrid Unchahar Transmission Limited (PUTL) has entered into a facility agreement for Rs700 crore with HDFC Bank Limited on March 29, 2022, for part financing of the funding requirements towards acquisitions being made by PGInvIT.

Powergrid Infra Investment Trust is an irrevocable trust set up pursuant to the Trust Deed as per the provisions of the Indian Trusts Act, 1882.

Powergrid Unchahar Transmission Limited has been appointed as the Investment Manager of the Trust.

PGInvIT’s stock added 0.80% and was trading at Rs134.95 against the previous close of Rs133.88 on BSE. It touched an intraday high and low of Rs135.33 and Rs132.01 respectively.