Power Grid plans to raise Rs 10,000 crore through InViT, says report

Updated : January 21, 2020 07:36 AM IST

The company this week will seek market regulator the Securities and Exchange Board of India’s approval on registering a trust for the purpose.

Power Grip Corporation plans to raise Rs 10,000 crore by launching an infrastructure investment trust or InViT, reported The Economic Times. The central transmission utility will list specific units backed by a pool of assets in its bid to raise funds, the report added.

The company this week will seek market regulator the Securities and Exchange Board of India’s approval on registering a trust for the purpose, the ET report said, citing two people aware of the development. The issue will likely open for subscription in FY20.

“This InViT could offer yields in the range of 8-10 percent across maturities,” one of the persons cited in the report told ET. Power Grid didn’t respond to an ET query on the matter.

Axis Capital, Edelweiss, ICICI Securities, and HSBC have been appointed by the state-owned utility for the purpose. Power Grid’s InViT will be the first of its kind by a government entity.

Published : January 21, 2020 07:36 AM IST

Power Grid plans to raise Rs 10,000 crore through InViT, says report

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