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Business News: Power Grid to transfer assets worth Rs 7,500 crore to InvIT in FY23

Business News: Power Grid to transfer assets worth Rs 7,500 crore to InvIT in FY23
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Power Grid Share Price News: Power Grid Shares Gain On Plan To Infuse Fresh Equity In Joint Venture

POWERGRID InvIT makes decent debut

POWERGRID Infrastructure Investment Trust was trading at Rs 103.55 at 11:08 IST on the BSE, a premium of 3.55% over the initial public offer (IPO) price of Rs 100. Units of the infrastructure investment trust were listed at Rs 104, at a premium of 4% to the initial public offer (IPO) price. So far, the units have hit a high of Rs 104.97 and low of Rs 103.40. On the BSE, 10.30 lakh units were traded on the counter so far. The IPO of POWERGRID Infrastructure Investment Trust (PowerGrid InvIT) was subscribed 4.83 times. The issue opened for bidding on 29 April 2021 and it closed on 3 May 2021. The price band of the IPO was Rs 99-100.

PowerGrid InvIT IPO ends with strong subscription

The issue received bids for 205.40 crore units as against 42.54 crore units on offer. The initial public offer (IPO) of POWERGRID Infrastructure Investment Trust (PowerGrid InvIT) received bids for 2,05,40,48,700 units as against 42,54,25,000 units on offer, as per the National Stock Exchange of India (NSE) website data. The issue was subscribed 4.83 times. The institutional investors category, comprising foreign institutional investors, domestic financial institutions, mutual funds, was subscribed 4.63 times. The other investors category, which includes corporates, individuals investors and others, was subscribed 5.07 times. The issue opened for bidding on Thursday, 29 April 2021 and it closed on Monday, 3 May 2021. The price band of the IPO was fixed at Rs 99-100.

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