The Ministry of Power has moved a cabinet note seeking approval for the monetisation of Power Grid Corporation of India Limited’s (Powergrid) transmission lines through an InvIT. It aims to raise Rs 100 billion through this process. Once approved, the government will invite bids to complete the process by mid-2020. The move will help Powergrid raise funds for its capex plan and reduce its debt burden, while increasing the dividend payout to the government and other stakeholders. The plan is to set up an InvIT and transfer some of Powergrid’s operational transmission assets to the trust.