PowerGrid Infrastructure Investment Trust (InvIT), sponsored by state-owned Power Grid Corporation of India (PGCIL), debuted at the bourses on Friday. Units of the InvIT got listed at Rs 104, a 4 per cent premium to the issue price. They ended the session at Rs 102.98, a 3 per cent premium over the issue price.
The IPO, which concluded on May 3, was subscribed 4.8 times. The IPO was priced between Rs 99 and Rs 100 per unit. The InvIT had raised Rs 7,735 crore.
The IPO comprised a fresh issuance of Rs 4,993.5 crore and an offer for sale (OFS) of Rs 2,742 crore of existing units. PGCIL had offered five “initial portfolio assets” at an enterprise value of Rs 10,384 crore for the InvIT.