Excelsior Correspondent
GURUGRAM, May 15: POWERGRID Infrastructure Investment Trust (PGInvIT), India’s first Infrastructure Investment Trust by a Maharatna CPSE, Power Grid Corporation of India Limited (POWERGRID), completed its one year of listing on NSE and BSE, on May 14 with excellent performance.
According to a spokesperson of PGInvIT, the Trust units have given a capital return of 37% to its unit holders on the Offer Price of Rs 100, during the period outperforming the benchmark indices on the bourses. He said total returns to unit holders are 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 Government of India. The National Monetization Pipeline of Government 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.
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