New Delhi: POWERGRID Infrastructure Investment Trust (PGInvIT), India's first Infrastructure Investment Trust by the Maharatna Power PSU, Power Grid Corporation of India Limited (PGCIL) has completed one year of its listing on May 14, 2022, with excellent performance. PGInvIT units have given a capital return of 37 percent to its unitholders on the offer price of Rs 100, during the period outperforming the benchmark indices on the bourses. Total returns to unitholders are about 45 percent 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 an overwhelming response of the investors and was oversubscribed 4.83 times, despite being launched in the midst of a very difficult pandemic and volatile market conditions.

Pursuant to the approval by the Union Cabinet in September 2020, Power Grid through PGInvIT, monetized five of its SPVs that it had acquired under the tariff-based competitive bidding mechanism of the government. The national monetisation pipeline of govt envisages monetization of about Rs 45,200 crore by Power Grid during FY'2022-25.

PGInvIT is a public listed InvIT set up under SEBI InvIT regulations. IDBI Trusteeship Services Limited is the trustee and Power Grid is its sponsor and project manager.

Power Grid Unchahar Transmission Limited, a wholly-owned subsidiary of Power Grid is Investment Manager to PGInvIT.

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