POWERGRID InvIT Rs 5K cr IPO opens on April 29
By IANS |
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Power demand. (File Photo: IANS). Image Source: IANS News
Mumbai, April 26 : The initial public offering (IPO) of units of POWERGRID Infrastructure Investment Trust ( POWERGRID InvIT ), an InvIT set-up to own, construct, operate, maintain and invest in infrastructure and power transmission assets in India, will open on Thursday, April 29, 2021 at a price band of Rs 99 to Rs 100.
The offer closes on Monday May 3, 2021. POWERGRID InvIT is issuing Units aggregating up to Rs 4,993.484 crore and the Selling Unitholder is offering Units aggregating up to Rs 2,741.508 crore.
As per the schedule, the Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date i.e. April 28, 2021.
POWERGRID Infrastructure Investment Trust to open IPO of its Units on April 29, 2021 and close on May 3, 2021
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PowerGrid InvIT IPO set to open on April 29, price band fixed at ₹99-100
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India’s largest power transmission company state-owned Power Grid Corporation of India (PGCIL) will launch its Infrastructure Investment Trust (InvIT) on April 29, a first for any government sector company. After IndiGrid and IRB InvIT fund, this will be the third publicly listed InvIT for the country and second in the power transmission sector. The company in its regulatory filings with Sebi said its issue comprises Rs 4,993.5 crore of fresh issuance and an offer for sale, whose size was not disclosed. “The selling unitholder will be entitled to the proceeds of the offer for sale and the proceeds received from the offer for sale will not form part of the offer proceeds. The Trust will not receive any proceeds from the Offer for Sale,” said the filing by PGCIL