PGInvit has disadvantage of being owned by PSU which itself has execution and delivery issues, They have to take clearance from ministries before selling assets to Invit hence lower valuation than Indigrid. PGInvit isn’t comparable with IRB.
Bharat Highways price is appreciating for simple reason of demand and supply, it has just been listed, float is limited moreover their entire portfolio is made up of HAMs which are more attractive in high rate environment. hence demand is higher. we have to see how invit performs in rate cuts.
that being said I think the thing going for Bharat highways is that promoter is aggressive in acquiring assets. If they grow assets base without diluting equity I think it would be worth looking.
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