Power Grid launches PGInvIT, could offer 18 more assets in future

Sets price band at Rs 99-100 per unit for the public offer

State-owned Power Grid Corporation of India (PGCIL), the largest power transmission company, launched its infrastructure investment trust (InvIT), becoming the first public sector company to do so.
 
PGInvIT has offered a price band of Rs 99-100 per unit for the public issue, which will open on April 29 and close on May 3. The InvIT will raise Rs 4,993.5 crore as fresh issuance and PGCIL is also providing an offer for sale (OFS) of Rs 2,742 crore of existing units. The company has offered five “initial portfolio assets” at an enterprise value of Rs 10,384 crore for the proposed