PowerGrid InvIT IPO to open on Apr 29 at Rs 99-100 price band
PGlnvlT, the infrastructure investment trust (InvIT) sponsored by state-run electricity transmission utility Power Grid Corporation of India (PGCIL), will open the initial public offer (IPO) of the platform on April 29, at a price band of Rs 99 to Rs 100. There will be fresh issue of Rs 4,993.5 crore and offer for sale for another Rs 2,741.5 crore. The offer closes on May 3, 2021.
PGCIL is seeking to monetise some of its transmission assets through PGInvIT, which will contribute to the government’s asset monetisation programme. The special purpose vehicles constituting PGInvIT are PowerGrid Warora, PowerGrid Jabalpur, PowerGrid Vizag, PowerGrid Parli and PowerGrid Kala Amb. The Cabinet had approved the monetisation of PGCIL assets through InvIT in September 2020.
