Markets have a mind of their own and they show what they can do. Last week they rose on four of the five trading sessions and the benchmark indices touched around the highs made in the middle of March. From there on they fell and corrected .
FPIs buy Rs 766 crore worth stocks
Net-net, foreign portfolio investors (FPIs) were buyers of domestic stocks to the tune of Rs 766.02 crore, data available with NSE suggested. DIIs were net buyers to the tune of Rs 436.20 crore, data suggests.
MONEY MARKETS
Rupee: The rupee rose by 30 paise to close at a nearly two-week high of 74.36 against the US dollar on Wednesday, extending its gains for a third day on the back of a strong rally in domestic equities.
10-year bonds: India 10-year bond yield fell 0.03 per cent to 6.05 after trading in 6.04-6.07 range.
Call rates: The overnight call money rate weighted average stood at 3.20 per cent, according to RBI data. It moved in a range of 1.90-3.50 per cent.
PowerGrid InvIT has garnered Rs 3,480 crore from anchor investors ahead of the IPO
PowerGrid Infrastructure Investment Trust (InvIT) initial public offering (IPO) opens for subscription today i.e. April 29. The offer will close on May 3. This is the first ever infrastructure investment trust IPO to be floated by a state-owned company in the country and will be the third InvIT to be listed on the Indian bourses, following in the footsteps of IRB InvIT and India Grid Trust, which went public in the year 2017. The shares are likely to be listed on the BSE and NSE.
PowerGrid Corporation of India is the owner of PowerGrid Infrastructure Investment Trust (PowerGrid InvIT).
PowerGrid InvIT IPO subscribed 10% on Day 1
PowerGrid InvIT IPO subscribed 10% on Day 1
The initial public offer of PowerGrid Infrastructure Investment Trust was subscribed 10 per cent on Thursday, the first day of subscription.
The issue received bids for 4,32,42,100 units against 42,54,25,000 units on offer, as per NSE data. Institutional investors category was subscribed 3 per cent and those for other investors 19 per cent.
The IPO comprises a fresh issue of shares worth Rs 4,993.48 crore and offer for sale to the tune of Rs 2,741.50 crore by selling shareholders.
The price range for the offer, which will close on May 3, is Rs 99-100 per unit.
PowerGrid Infrastructure Investment Trust on Wednesday raised a little over Rs 3,480 crore from anchor investors ahead of its initial public offer, which opens for subscription on Thursday. It has been decided to allocate 34,80,74,100 units at Rs 100 apiece to 47 anchor investors, aggregating the total to Rs 3,480.74 crore, according to a circular uploaded on BSE website. Among the anchor investors are SBI Mutual Fund (MF), HDFC MF, Tata MF, Fidelity Funds, Tata AIA Life Insurance Company, Tata AIG General Insurance Company, SBI Life Insurance Company, UTI MF, ICICI Prudential MF, Sundaram MF, Rainbow Investments Ltd and CPP Investment Board Private Holdings.
PowerGrid Infrastructure Investment Trust (PowerGrid InvIT) is owned by state-owned PowerGrid Corporation of India.