PowerGrid files draft papers for InVIT; plans to raise over Rs 5,000 cr
State-owned Power Grid Corporation of India has filed draft papers with Sebi for floating an Infrastructure Investment Trust (InVIT) through which it seeks to raise more than Rs 5,000 crore.
This will be the first InVIT in the country to be floated by a public sector company. The offer includes fresh issue as well as offer- for-sale.
The power transmission major plans to mop up total Rs 4,999.48 crore through fresh issue, as per the draft papers filed with the Securities and Exchange Board of India (Sebi). The offer-for-sale amount has not been specified in the draft papers.
The PowerGrid InVIT units are proposed to be listed on the National Stock Exchange and the BSE.
