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GAIL set to kick off asset monetisation in oil sector by end of 2021-22

InvIT to be floated by the end of next fiscal year

oil, gas, offshore, drill, high, petrol, crude, biding, fields

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An InvIT is like a mutual fund that allows multiple small and large investors to invest in a project and get proportional returns from the profits the asset makes

Twesh Mishra Jyoti Mukul New Delhi

2 min read Last Updated : Mar 22 2021 | 6:10 AM IST

The first oil-sector infrastructure investment trust (InvIT) is expected to be floated by GAIL (India) by the end of 2021-22. According to a top petroleum ministry official, Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL), and GAIL (India) will be going for three separate InvITs as part of the central government’s asset monetisation plan.

“GAIL (India) will be the first to float the InvIT. In all, Rs 15,000-20,000 crore is expected to be raked in via this route. The money will be utilised by the companies for capital expenditure,” said the official. This is expected to augur well for the companies

Topics : GAIL Asset mobilisation Indian Economy oil and gas public sector undertakings PSUs Disinvestment Hindustan Petroleum Corporation Indian Oil Corp InvITs

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