Page 90 - Index

Notes
to the Standalone Financial Statements for the year ended 31 March 2022
(C) Related Party Transactions
(i) The outstanding balances of related parties are as follows:
Particulars
IDBI Trusteeship Services Limited (Trustee)
Purchase of Equity Shares of PVTL
Power Grid Corporation of India Limited
Purchase of Equity Shares of PKATL
Power Grid Corporation of India Limited
Purchase of Equity Shares of PJTL
Power Grid Corporation of India Limited
Purchase of Equity Shares of PWTL
Power Grid Corporation of India Limited
Purchase of Equity Shares of PPTL
Power Grid Corporation of India Limited
Issue of Unit Capital
Power Grid Corporation of India Limited
Distribution Paid
Power Grid Corporation of India Limited
Details in respect of related party transactions involving acquisition of InvIT assets as required by Para 4.4(b)(iv) of Section A of Annexure A to SEBI Circular dated 20 October 2016 are as follows:
(A) Summary of the valuation reports (issued by the independent valuer appointed under the InvIT Regulations):
During the financial year ended 31 March 2022, the Trust has acquired 74% equity share capital of POWERGRID Kala Amb Transmission Limited (‘PKATL’), POWERGRID Parli Transmission Limited (‘PPTL’), POWERGRID Warora Transmission Limited (‘PWTL’) and POWERGRID Jabalpur Transmission Limited (‘PJTL’) and 100% equity share capital of POWERGRID Vizag Transmission Limited (‘PVTL’),from Power Grid Corporation of India Limited.
The Trust has paid the consideration for acquisition of 74% equity share capital of PVTL, PKATL, PPTL, PWTL and PJTL from Power Grid Corporation of India Limited on 13 May 2021 pursuant to separate share purchase agreements. Summary of the valuation report dated 26 February 2021 issued by the independent valuer appointed under the InvIT Regulations, expressing opinion on the fair valuation of the specified SPVs as of 31 December 2020 is as follows:
For the year ended on 31 March 2022
0.35
14,869.20
2,022.92
7,234.13
10,327.52
9,919.16
41,065.09
1,023.75
Particulars
Loans given to subsidiaries (Unsecured) POWERGRID Vizag Transmission Limited POWERGRID Kala Amb Transmission Limited POWERGRID Parli Transmission Limited POWERGRID Warora Transmission Limited POWERGRID Jabalpur Transmission Limited Total
₹ in million
As at 31 March 2022
7,839.88
1,860.00
13,567.94
16,172.07
12,942.95
52,382.84
(ii) The transactions with related parties during the period are as follows: -
₹ in million
For the year ended on 31 March 2022
1,005.98
238.67
1,668.96
1,976.36
1,518.40
6408.37
1,005.70
234.73
803.25
765.44
513.81
3322.93
7,839.88
1,860.00
13,567.94
16,172.07
12,942.95
52,382.84
111.57
Particulars
Income - Interest on loans to subsidiaries
POWERGRID Vizag Transmission Limited POWERGRID Kala Amb Transmission Limited POWERGRID Parli Transmission Limited POWERGRID Warora Transmission Limited POWERGRID Jabalpur Transmission Limited Total
Income - Dividend received from subsidiaries
POWERGRID Vizag Transmission Limited POWERGRID Kala Amb Transmission Limited POWERGRID Parli Transmission Limited POWERGRID Warora Transmission Limited POWERGRID Jabalpur Transmission Limited Total
Loans to Subsidiaries
POWERGRID Vizag Transmission Limited POWERGRID Kala Amb Transmission Limited
POWERGRID Parli Transmission Limited POWERGRID Warora Transmission Limited POWERGRID Jabalpur Transmission Limited
Total
Payment of Investment Manager fee (Including Taxes)
POWERGRID Unchahar Transmission Limited (Investment Manager)
Payment of Trustee fee (Including Taxes)
SPV WACC
PVTL 7.80% PKATL 7.60%
Enterprise Equity Value Value (₹ in million)
(₹ in million)
23,136.10 15,313.80 4,535.20 2,679.50
No. of Shares
209,730,000 61,000,000
Value per share (₹)
73.0 43.9
88 Annual Report 2021-22