There have been excellent discussion on this, thanks to all contributors.
If you were to compare one aspect of Indigrid vs powergrid Invit -
- Sponsor and Management Integrity/Corporate governance/Management capability/alignment of interest of Management, Sponsor and retail shareholders (all these aspects are interrelated and depends on the Sponsor/Management) - Which one would fare how and why do you feel so?
Is corporate governance in Powergrid not top notch and so the management capabilities? I was of opinion that first time I am getting an INVIT/REIT from a completely trustworthy long term vision Sponsor - like Powergrid (a Navratna PSU) something comparable to say an RIL/TATA etc in Private firms as quality of sponsor and not from anyone from builder community or a PE.
But above discussions make me doubt some things - why is management projecting something not correct? Even 9% post tax is not that bad (compared to Indigrid at today’s price). So I see no need for them to hide anything. Is it that we are not understanding anything correctly here?
Lastly if this INVIT is not worth investing because of management capabilities/sponsor then is Powergrid equity is?