URL copied
PowerGrid InvIT IPO: Subscription opens on Thursday; check price band and more
Power Grid Infrastructure Investment Trust has fixed a price band of Rs 99-100 per unit for its Rs 7,735 crore initial share sale, which will open for public subscription on April 29. The issue will close on May 3 and the bidding for anchor investors will open on April 28, according to the company s statement on Monday.
Power Grid Infrastructure Investment (PowerGrid InvIT) is owned by state-run Power Grid Corporation of India. This will be the first Infrastructure Investment Trust (InvIT) in the country to be floated by a public sector company.
PowerGrid Infrastructure Investment Trust IPO will comprise a fresh issuance of Rs 4,994 crore
PowerGrid Infrastructure Investment Trust (InvIT) will launch its initial public offering (IPO) on April 29. The offer will close on May 3. This is the first ever InvIT (infrastructure investment trust) IPO by a state-owned company and will only be the third InvIT to be listed on the Indian bourses; IRB InvIT and India Grid Trust went public in the year 2017. The shares are likely to be listed on the BSE and NSE.
The PowerGrid Infrastructure Investment Trust issue will comprise a fresh issuance of Rs 4,994 crore and an offer for sale for an undisclosed amount. The proceeds from the fresh issue will be utilised for repayment or pre-payment of debt and for general purposes.