Power Grid to announce first InvIT public issue on Monday

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.

The 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.