POWERGRID Infrastructure Investment Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
POWERGRID Infrastructure Investment Trust (PGInvIT) has announced a consortium agreement with its sponsor, Power Grid Corporation of India Limited (POWERGRID), to jointly bid for up to two Tariff Based Competitive Bidding (TBCB) transmission projects. POWERGRID will act as the Lead Partner while PGInvIT will be the Other Partner, with the consortium operating through a holding company or other permissible structure. The aggregate estimated project cost is around Rs. 500 crore. The decision follows in-principle approval from the Boards of POWERGRID and PGInvIT's Investment Manager (POWERGRID Unchahar Transmission Limited).
This consortium allows PGInvIT to participate in new transmission projects alongside its sponsor, potentially expanding its asset base and future revenue streams for unit holders. The deal size is relatively modest at Rs. 500 crore, so immediate financial impact may be limited, but it signals continued pipeline growth for the InvIT.