{"id":26591,"date":"2022-02-28T17:36:32","date_gmt":"2022-02-28T12:06:32","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-pginvit-acquisition\/"},"modified":"2022-02-28T17:36:32","modified_gmt":"2022-02-28T12:06:32","slug":"biz-pginvit-acquisition","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-pginvit-acquisition\/","title":{"rendered":"PGInvIT investment manager board approves investment worth Rs 644 cr for acquisitions"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2442912589\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p> New Delhi, Feb 28 (PTI) Infrastructure investment trust PGInvIT will acquire stakes in various assets of Power Grid Corporation of India Ltd (PGCIL) for Rs 644.15 crore, a regulatory filing said on Monday.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-400394373\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The Board of Directors of POWERGRID Unchahar Transmission Ltd \u2013 the investment manager to PGInvIT, in its meeting held on Monday, February 28, 2022, has approved investment of Rs 644.15 crore for acquiring stake in various assets of PGCIL, the filing said.<\/p>\n<p> The board approved acquisition of balance 26 per cent equity shareholding of POWERGRID Vizag Transmission Ltd by PGInvIT from Power Grid Corporation of India Ltd (POWERGRID) at a consideration not exceeding Rs 340 crore, subject to approval of the unitholders of PGInvIT.<\/p>\n<p> It also approved acquisition by the PGInvIT, through its Special Purpose Vehicles (SPVs) namely POWERGRID Parli Transmission Ltd, POWERGRID Warora Transmission Ltd and POWERGRID Jabalpur Transmission Ltd, of additional revenues accruing to these SPVs on account of change in law, at a consideration not exceeding Rs 81.01 crore, Rs 111.84 crore and Rs 111.30 crore respectively from POWERGRID, subject to approval of the unitholders of PGInvIT.<\/p><div class=\"trade-content_5\" id=\"trade-3948639487\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> The board has also approved a Postal Ballot Notice for seeking approval of unitholders of PGInvIT on these investment of Rs 644.15 crore. PTI KKS  MR<\/p>\n<div class=\"trade-after-content\" id=\"trade-2754526582\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Feb 28 (PTI) Infrastructure investment trust PGInvIT will acquire stakes in various assets of Power Grid Corporation of India Ltd (PGCIL) for Rs 644.15 crore, a regulatory filing said on Monday. The Board of Directors of POWERGRID Unchahar Transmission Ltd \u2013 the investment manager to PGInvIT, in its meeting held on Monday, February [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-26591","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>PGInvIT investment manager board approves investment worth Rs 644 cr for acquisitions - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-pginvit-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PGInvIT investment manager board approves investment worth Rs 644 cr for acquisitions\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Feb 28 (PTI) Infrastructure investment trust PGInvIT will acquire stakes in various assets of Power Grid Corporation of India Ltd (PGCIL) for Rs 644.15 crore, a regulatory filing said on Monday. 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