It will be the first Invit IPO to be released by a PSU company.
Next week an IPO of a government company is coming where you can earn good money by investing. This will be the first Invit (infrastructure investment trust) IPO to be issued by a PSU company. This is a big transaction and the size of the IPO is expected to be Rs 7700 crore.
Disinvestment target Rs 175 lakh crore
This will be a landmark deal for the Indian capital market. This decision of Power Grid Corporation has come at a time when the government has set its disinvestment target of Rs 175 lakh crore for the financial year 2022. Keeping this goal in mind, the government is in the process of preparing an IPO for LIC and Air India.
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Explain that the investment is under a collective investment scheme that works like a mutual fund. In this, individual institutional investors can invest directly in an infrastructure project and can earn as a return from the income of that project.
IPO size may be Rs 7700 crore
This is a big transaction and the size of the IPO is expected to be Rs 7700 crore, which will have a primary component of Rs 4500 crore and the remaining amount will be for the secondary component. According to sources, the price band of this IPO is expected to be announced on April 29.
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Too much interest has been shown in this offer
Another source told Moneycontrol on the condition of anonymity that there was a lot of interest in this offer from stable yield seekers and global pension funds, global long only funds, domestic infra funds as well as leading mutual funds and insurance players. Is shown.
Will help reduce debt on the company
Significantly, the power transmission sector has remained untouched by the crisis of Kovid-19 in the country and the government wants to raise money by monetizing its 5 assets. This much-awaited invIT IPO will help reduce debt on the company and will also provide capital for new network expansion plans.