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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.
State-run Power Grid Corporation of India Ltd (PGCIL) on Friday said it has received Rs 2,736.02 crore through sale of 27.41 crore units in the PowerGrid Infrastructure Investment Trust (PGInvIT) offer for sale. Earlier in the day, the units issued by PGInvIT were listed on NSE and BSE. PGCIL has created the PGInvIT to monetise its assets. The initial portfolio of assets in the InvIT comprises five special purpose vehicles (SPVs) PowerGrid Vizag Transmission Ltd (PVTL), PowerGrid Kala Amb Transmission Ltd (PKATL), PowerGrid Parli Transmission Ltd (PPTL), PowerGrid Warora Transmission Ltd (PWTL) and PowerGrid Jabalpur Transmission Ltd (PJTL). PGCIL, under the process of monetisation of assets through the InvIT, has transferred 74 per cent of its shareholding to the PGInvIT, it said in a BSE filing.