Abstract
The case describes the structure of Infrastructure Investment Trusts (InvITs) created and launched in Indian markets in 2017. Besides introducing InvITs and their potential role in relaxing the financing constraint created by the lack of an active corporate debt market in India, the case can help in analysing why the market is discounting the IndiGrid unit price relative to its issue price. It also offers an opportunity to value IndiGrid’s Patran acquisition.
Additional Information
| Product Type | Case |
|---|---|
| Reference No. | F&A0552(A) |
| Title | IndiGrid: Creating India’s First Power Transmission InvIT (A) |
| Pages | 31 |
| Published on | Mar 31, 2020 |
| Year of Event | 2019 |
| Authors | Agarwalla, Sobhesh Kumar; Pandey, Ajay; |
| Area | Finance and Accounting (F&A) |
| Discipline | Finance |
| Sector | Banking Finance Insurance (BFI), Infrastructure |
| Learning Objective | 1. Infrastructure sector PPP projects and issues in their financing. 2. How can InvITs improve the financing of PPP projects? 3. Determinants of structuring InvITs and regulatory concerns. 4. Valuation of to-be-acquired assets by InvITs and value of InvIT units. |
| Keywords | InvITs; Infrastructure Financing; Assets Securitization |
| Country | India |
| Organization | Sterlite Power Transmission Limited |
| Access | For All |
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