India Grid Trust completes acquisition of Parbati Koldam Transmission Company Limited.

India Grid Trust has completed acquisition of 74% paid-up capital of Parbati Koldam Transmission Company Limited from Reliance Infrastructure Limited.

The acquisition of aforesaid power transmission asset is in line with IndiGrid's investment strategy as provided in the Trust Deed focused on stable distribution to unitholders by owning power infrastructure assets with long term tariff contracts.

The cost of acquisition is implied Enterprise Value (for 100% equity shares) of Rs. 9,000 million inclusive of cash & cash reserves and normalised tariff receivables.

PKTCL was incorporated on September 02, 2002. PKTCL is a joint venture between Reliance Infrastructure Limited (74%) and Power Grid Corporation of India Limited (26%). PKTCL has entered into a TSA with PGCIL on December 24, 2013. PKTCL operates ~458 circuit kilometres of transmission lines constituting inter-State transmission system for evacuation of power from the Parbati-II HEP implemented by NHPC Limited and Koldam HEP implemented by NTPC Limited. The Asset was fully commissioned in June 2015. During the FY 2019-20, PKTCL had a total Revenue of ~Rs. 209 Crores.

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