PowergridInvIT to launch IPO on April 29, 2021

The initial public offering (IPO) of units of Power Grid Corporation of India Limited Infrastructure Investment Trust (POWERGRID InvIT), an InvIT set-up to own, construct, operate, maintain and invest as an infrastructure investment trust as permissible in terms of the InvIT Regulations, including in power transmission assets in India, will open on April 29, 2021 at a price band of Rs 99 to Rs 100.

The offer closes on May 3, 2021. POWERGRID InvIT is issuing units aggregating up to Rs 49,934.84 million (“Fresh Issue”) and the selling unitholder is offering units aggregating up to Rs 27,415.08 million. The company has offered five initial portfolio assets at an enterprise value of Rs 103,840 million for the proposed InvIT and has 18 under-construction projects with Rs 225,000 million investment which they plan to offer to InvIT in the future.