Betting on power: Insurers line up to invest in PGCIL and IndiGrid InvITs

Within days of Indian insurance companies getting approval to invest in debt securities of infrastructure and real estate investment trusts, many have lined up to invest in the infrastructure investment trust (InvIT) launched by state-owned Power Grid Corporation of India ltd (PGCIL) and the NCD issuance by IndiGrid — both power transmission assets platform.   The first power transmission InvIT of the country – IndiGrid, (sponsored by private power transmission company Sterlite Power) came out with a public issue of non-convertible debentures (NCDs) to raise up to Rs 1,000 c.....

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