Exclusive: Power Grid InvIT IPO to be launched soon; to be game-changer for company, Anil Singhvi says

BIG BREAKING news on this public sector company! Power Grid Corporation of India will soon bring its InvIT IPO. Union Power Minister R K Singh tells Zee Business Executive Editor Swati Khandelwal about government’s plans to sell 5 power projects. He revealed that more projects will follow. 

The Power Minister has said that an InvIT IPO will come within the next few days. This will be brought in line with the government’s plans to monetise the public assets. This will be the first InvIT that will be floated by a PSU company.

See Zee Business Live TV Streaming Below:

Under this, projects worth Rs 7,050 cr will be sold, Khandelwal said and added that it comprises of 5 projects. She further said that many pension funds and sovereign funds are expected to take part in this InvIT IPO.  

The Minister had further indicated that more such InvITs will follow in due course, Khandelwal said. The next InvIT will be in the hydro power sector.

Watch Zee Business Tweet Video Below:

#ZBizExclusive | जल्द लॉन्च होगा पावर ग्रिड का InvIt IPO,

- पावर मिनिस्टर आर के सिंह का बड़ा बयान- ₹7,050 करोड़ के 5 प्रोजेक्ट्स को बेचा जाएगा, पावर सेक्टर में और भी InvIt आएंगे#MumbaiPowerOutage #Cyberattack @AnilSinghvi_ @SwatiKJain @OfficeOfRKSingh pic.twitter.com/ifNqeTNbwl

— Zee Business (@ZeeBusiness) March 4, 2021

 The Power Grid InvIT is expected to come before 21 March. The Minister said that the InvIT will enable further investment in the sector.  

Anil Singhvi on Power Grid InvIT 

The Managing Editor lauded this move saying that this will be a first InvIT by a government company. The companies require big money which is at times difficult to raise. It will be easier to raise the money through this route. He said that this could be a game changer for Power Grid. Since this will be the test case, it is expected to sell readily, the Market Guru said. 

Previous InvITs have received tremendous response. High net worth individuals are also finding a lot of value in this space. The power sector stocks have been gaining. 

Shares of Power Grid today ended at Rs 225.85 on the NSE, down by 0.7 per cent from the previous closing price.