Power Grid to hive off telecom business by June; targets ₹1,000 cr revenue in FY24

Power Grid Corp is readying to hive off its telecom business into a separate subsidiary by June and targets a revenue of Rs 1,000 crore during the current fiscal year. It also aims to monetise its transmission assets through securitisation rather than sell to its infrastructure investment trust (InvIT), as it finds the former more efficient.Power Grid, primarily a power transmission company, has a pan-India telecom network of over 82,000 km with optic fibre and optical ground wire it also offers transmission towers for mobile communications. It has licences for national long-distance services, category A internet services, and registration as an infrastructure provider.Telecom prospectsThe company told analysts this week that it expects str.....