Shares of PowerGrid Infrastructure Investment Trust listed with a premium of 4 per cent on Friday against its issue price of Rs 100. The stock made its debut at Rs 104, registering a gain of 4 per cent on the BSE. It further jumped 4.97 per cent to Rs 104.97 as the trade progressed. At the NSE, it listed at Rs 104, with a premium of 4 per cent. Earlier this month, the initial public offer of PowerGrid Infrastructure Investment Trust was subscribed 4.83 times. Price range for the offer was at Rs 99-100 per unit.
PowerGrid Infrastructure Investment Trust (PowerGrid InvIT) is owned by state-owned PowerGrid Corporation of India.
PowerGrid InvIT slips after debut at 4% premium to IPO price
During the day, the scrip touched an intra-day high of 104.97 on BSE, before slipping to an intra-day low of Rs 102.84. The stock closed the day on Rs 102.98, down 1.02 points
BusinessToday.In | May 14, 2021 | Updated 18:29 IST
PowerGrid Infrastructure Investment Trust (InvIT) made its debut on the stock exchanges at a premium of 4 per cent over the issue price. The stock was listed on BSE and NSE at Rs 104 per unit, as compared to the IPO price of Rs 100. The stock closed lower amid volatility and nervous in the market.
During the day, the scrip touched an intra-day high of 104.97 on BSE, before slipping to an intra-day low of Rs 102.84. The stock closed the day on Rs 102.98, down 1.02 points or 0.98 per cent from the opening price. This is 2.98 points higher than the issue price.
PowerGrid InvIT lists with 4 pc premium
PowerGrid InvIT lists with 4 pc premium
New Delhi, May 14: Shares of PowerGrid Infrastructure Investment Trust listed with a premium of 4 per cent on Friday against its issue price of Rs 100.
The stock made its debut at Rs 104, registering a gain of 4 per cent on the BSE. It further jumped 4.97 per cent to Rs 104.97 as the trade progressed.
At the NSE, it listed at Rs 104, with a premium of 4 per cent.
Earlier this month, the initial public offer of PowerGrid Infrastructure Investment Trust was subscribed 4.83 times.
Price range for the offer was at Rs 99-100 per unit.
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.