Powergrid board nods transfer of stake and right on additional revenue in favour of PGInvIT

24 Feb 2022 , 01:22 PM

Power Grid Corporation of India Ltd has informed that the Board of Directors of the company in their meeting held on February 23, 2022 have approved business related matters.

• Transfer of 26% residual equity shareholding in POWERGRID Vizag Transmission Limited to PGInvIT and
• Relinquishment of POWERGRID’s right on additional revenue accruing to POWERGRID Parli Transmission Limited, POWERGRID Warora Transmission Limited and POWERGRID Jabalpur Transmission Limited under change in law to PGInvIT against upfront consideration.

At around 1;24 PM on Thursday, Power Grid Corporation of India was trading at Rs193.80 apiece down by Rs4.3 or 2.17% from its previous closing of Rs198.10 apiece on the BSE.