Infrastructure Investment Trust IndiGrid has received shareholders approval for acquisition of RAPP Transmission Company (RTCL), Purulia and Kharagpur Transmission Company (PKTCL) and Maheshwaram Transmission (MTL) from Sterlite Power Grid Ventures for Rs 1,490 crore. The resolution for the acquisition was unanimously approved by all the participating unit holders.
IndiGrid is the first Infrastructure Investment Trust (InvIT) established to own inter-state power transmission assets in India. IndiGrid owns 10 independent revenue-generating elements, including 8 transmission lines of 1,936 ckms and 2 substations of 6,000 MVA capacity.