New Delhi: Reliance Infrastructure Limited Parbati Koldam Transmission Company Limited. (PKTCL) has completed the sale of its entire 74 percent stake. Giving this information on Saturday, the company said that it has sold its stake in PKTCL to India Grid Trust.
The deal has been done for Rs 900 crore. The company said that it will use this amount to reduce its debt burden. This will reduce the outstanding tax on the company by six percent from Rs 14,000 crore to Rs 13,100 crore. The company said that it has successfully completed the sale of its entire stake in PKTCL to India Grid Trust.
The deal has been done for Rs 900 crore. Reliance Infrastructure had a 74 percent stake in PKTCL located in Himachal Pradesh and Punjab. It is Reliance Infrastructure and Power Grid Corporation of India Ltd. (PGCIL) is a joint venture. The deal was announced in November 2020 and the firm agreement was signed by Reliance Infrastructure and India Grid Trust.