PGInvIT secures Rs 700 crore credit facility from HDFC Bank

New Delhi, Mar 30 Infrastructure investment trust PGInvIT has inked an agreement with HDFC Bank to secure a credit facility of Rs 700 crore for part..

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Infrastructure investment trust PGInvIT has inked an agreement with HDFC Bank to secure a credit facility of Rs 700 crore for part financing the funding requirements for its acquisitions.

“This is to inform that pursuant to the approval of the Board of Directors of PowerGrid Unchahar Transmission Limited (PUTL), the Investment Manager of PowerGrid Infrastructure Investment Trust (PGInvIT) in its meeting held on March 28, 2022, PGInvIT (acting through its Investment Manager PUTL) has entered into a facility agreement for Rs 700 crore with HDFC Bank Limited on March 29, 2022, for part financing the funding requirements towards acquisitions being made by PGInvIT,” a BSE filing said on Wednesday.

PowerGrid Infrastructure Investment Trust (PowerGrid InvIT) is owned by the state-owned PowerGrid Corporation of India.