Power Grid Corporation of India Limited — Important, 30-12-2024: Sale or disposal

POWERGRID has transferred its 26% residual equity shareholding in four associate companies to POWERGRID Infrastructure Investment Trust (PGInvIT) for an aggregate consideration of ₹506.63 Cr. Following this transaction, POWERGRID no longer holds any shareholding in these companies, which consequently cease to be its associates. The income contribution from these four companies to POWERGRID’s consolidated income for FY 2023-24 was minimal, representing only 0.144%. The transaction is characterized as a related party transaction, executed at arm's length, with valuation conducted by an independent valuer. This move may streamline POWERGRID’s operations and enhance its focus on core business areas, emphasizing a positive outlook for operational efficiency. Investors should follow developments closely as this could impact the company’s strategic direction and financial priorities.