PowerGrid offers transmission assets worth Rs 7000 crore via InvIT IPO
State-run electricity transmission utility Power Grid Corporation of India (PGCIL) on Wednesday filed a draft offer document with the Security and Exchange Board of India (Sebi), seeking to monetise some of its assets through PGlnvlT, the infrastructure investment trust (InvIT) recently formed by the company.
Though the valuation the assets to be put up for sale through the proposed initial public offer has not been mentioned by PGCIL in the stock exchange filing, five transmission lines worth Rs 7,000 crore are seen to be up for grabs. This is the first time a PSU in the power sector will monetise its assets through the InvIT model and use the proceeds to fund new and under-construction capital projects.
