Power Grid ropes in four investment bankers for InvIT

Power GridNSE 0.63 % Corporation has set the ball rolling for its proposed Infrastructure Investment Trust (InvIT), the first by a government company. The state-owned electricity transmission operator is said to have appointed four bankers— Axis Capital, ICICI Securities, HSBC and Credit Suisse – to manage the Rs 10,000-crore issue. This could not be independently verified. The issue is expected to be launched in February or March next year. Bankers said global pension funds looking for stable returns are likely to be key participants in the issue.