PowerGrid InvIT IPO likely to open next week

PowerGrid Infrastructure Investment Trust is likely to launch its initial public offering at the end of April, two people aware of the development told Mint.

This will be the first time a state owned entity is monetizing its infrastructure assets through the InvIT route. This will also be only the third InvIT to be listed in the Indian markets, after IRB InvIT and India Grid Trust both of which went public in 2017.

In January Mint reported that the IPO will see the InvIT raise up to ₹4,995 crore by selling new units of the trust, while its sponsor Power Grid also plans to sell units worth up to Rs3,000 crore through the IPO, taking the total size of the share sale to almost Rs8,000 crore.