POWERGRID Infrastructure Investment Trust (PGInvIT) completes one year of listing

Sarkaritel
By Sarkaritel May 15, 2022 20:08

POWERGRID Infrastructure Investment Trust (PGInvIT) completes one year of listing


Gurugram, May 15, 2022: POWERGRID Infrastructure Investment Trust (‘PGInvIT’) (NSE: PGINVIT; BSE: 543290), India’s first Infrastructure Investment Trust by a Maharatna CPSE, Power Grid Corporation of India Limited (‘POWERGRID’) (NSE: POWERGRID; BSE: 532898), completed one year of listing, on May 14, 2022, with
excellent performance.

PGInvIT units have given a capital return of 37% to its unitholders on the Offer Price of Rs.100, during the period outperforming the benchmark indices on the bourses. Total returns to unitholders is about 45% including an aggregate distribution of Rs.7.50 per unit paid by PGInvIT since listing.

PGInvIT came out with its Initial Public Offer in April 2021. The issue received overwhelming response of the investors and was oversubscribed 4.83 times, despite being launched in the midst of very difficult pandemic and volatile market conditions.

Pursuant to the approval by the Union Cabinet in September 2020, POWERGRID, through PGInvIT, monetized five of its SPVs that it had acquired under Tariff Based Competitive Bidding mechanism of Govt. of India. The National Monetisation Pipeline of Govt. of India envisages monetization of about Rs.45,200 crore by POWERGRID during FY2022-25.

PGInvIT is a public listed InvIT set up under SEBI InvIT Regulations. IDBI Trusteeship Services Limited is the Trustee, and POWERGRID is its Sponsor and Project Manager. POWERGRID Unchahar Transmission Limited, a wholly owned subsidiary of POWERGRID is Investment Manager to PGInvIT.

Sarkaritel
By Sarkaritel May 15, 2022 20:08