PGINVIT impairment of investments in subsidiaries and book value

PGINVIT definitely till the time they are able to give 12/- yearly payout, is a value buy for an alternative stable income. The day rates start decreasing from RBI, the pre-tax yield will be even more lucrative.

Yes, other valuable boarders have mentioned, the delay in new acquisition is a challenge to keep on servicing 12/- payout, but this should happen sooner or later, is what the situation seem to hinge upon.
The promoter Power Grid is currently not willing to transfer any assets and currently getting money for more work is not a challenge. But this will happen as GoI will be there to take some call, even GAIL has denied to launch pipeline InvIT which GoI was willing to come up and this also seems to be in cold box.

However would like draw the attention that Powergrid lines are not only pure play of power transmissions but also for telecommunications. OPGW can be a dark horse for all transmission lines asset valuation increase and it can increase the valuation substantially. Power Grid and INVIT both have this and this should give some trigger in near future as currently management has also not spoken much about in public for OPGW ability. The high voltage lines surely have it as it helps in decreasing power losses, signals travel more distances without repeaters requirement and they act as sensors to detect any fault in lines, in fact can act as shield for lightning strikes. Companies, Govt etc use OPGW for their own purposes for last mile connectivity and speed enhancements and companies like power grid can sell there spare capacity to these institutions, generating some value out of it.

This is no way a cover up for the delay in assets acquisition but more of a structural theory that their payout could sustain 12/- till FY25-26, however, post that serious acquisition only can help for regular payouts. INDIGRID INVIT is better placed currently in terms of types of assets and the size of assets, so buying a mix of both of these would be better for visibility of stable pay-out, not for capital appreciation though. I