Power Grid to announce first InvIT public issue on Monday
Premium- InvITs are trusts that manage income-generating infrastructure assets, typically offering investors a regular yield and a liquid method of investing in infrastructure projects.
NEW DELHI: State-owned Power Grid Corporation of India Ltd will announce on Monday the public issue of its first infrastructure investment trust (InvIT) - PowerGrid Infrastructure Investment Trust, the PSU said.
PGCIL is the first state-owned company to offer an InvIT as part of the government’s brownfield asset monetisation strategy, wherein the PSU will monetise its tariff-based competitive bidding (TBCB) assets valued at about ₹7,000 crore.
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1 min read . 24 Apr 2021The InvIT is expected to attract domestic and global investors, including sovereign wealth funds. InvITs are trusts that manage income-generating infrastructure assets, typically offering investors a regular yield and a liquid method of investing in infrastructure projects.
This will be the third InvIT, after IRB InvIT and India Grid Trust, to be listed in India. After the first tranche, a ₹10,000 crore second tranche for the InvIT is also in the works as reported by Mint.
The InvIT route was proposed by the Centre as an alternative fundraising route for state-run companies to manage funding requirements without having to depend on government support.
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