PGCIL may bring in 18 more assets under InvIT
State run Power Grid Corporation of India Ltd (PGCIL) plans to bring in another 18 projects involving an investment of Rs22,500 crore under its infrastructure investment trust (InvIT), chairman and managing director K. Sreekant said on Monday.
PGCIL is the first state-owned companies to offer an InvIT as part of the government’s brownfield asset monetization strategy, wherein the PSU is monetizing its five tariff-based competitive bidding (TBCB) assets having an enterprise value of ₹10,384 crore.
“POWERGRID Infrastructure Investment Trust (“POWERGRID InvIT” or “PGInvIT”) is issuing Units aggregating up to ₹49,934.84 million (“Fresh Issue”) and the Selling Unit holder is offering up to such number of Units aggregating up to ₹27,415.08 million in the Offer,” the state-run firm said in a statement on Monday.
