Power Grid in talks with investors for Rs7,000 crore InvIT

NEW DELHI: State-owned Power Grid Corp. India Ltd (PGCIL) is in advanced talks with investors for its first tranche of projects through an infrastructure investment trust (InvIT), said a person aware of the development.

The draft offer document for this first tranche of projects held in a special purpose vehicle (SPVs) through an InvIT has been filed with the Securities and Exchange Board of India (Sebi) for monetising five of its tariff-based competitive bidding (TBCB) assets valued at about Rs7,000 crore.

“We were registered with SEBI as an InvIT on January 7, 2021,” the draft offer document said.