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REIT, InvIT lot size cut to attract retail players - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
BL Research Bureau IndiGrid Trust (IndiGrid), a power sector infrastructure investment trust (InvIT), is offering redeemable Non-convertible debentures (NCD) to the public from April 28 and will close on April 30, 2021. The company is offering NCDs for 3-, 5-, 7- and 10-year timeframes with only non-cumulative option. The rates of interest offered for these time periods are 6.75 per cent, 7.6 per cent, 7.9 per cent and 8.2 per cent per annum respectively. These rates are in case of NCDs with annual interest pay-out schemes. The company also offers quarterly coupon payment option for 7- and 10-year NCDs, in which case the applicable interest rates are 7.69 per cent and 7.97 per cent respectively. ....
IndiGrid InvIT hits public bond sale, gets double subscriptions SECTIONS Share Synopsis A large Mumbai-based infrastructure conglomerate and a private life insurance company attached to a “salt-to-steel” group bid to own those papers with yield-hungry wealthy investors taking the lead, sources told ET. Investor response defied an existing arid bond street, dented by the second wave of coronavirus. Related MUMBAI: KKR-backed India Grid Trust (IndiGrid Trust), a power sector infrastructure investment trust (InvIT), obtained more than double subscriptions for its maiden public bond sale that opened for subscription Wednesday amid an economic depression. A large Mumbai-based infrastructure conglomerate and a private life insurance company attached to a “salt-to-steel” group bid to own those papers with yield-hungry wealthy investors taking the lead, sources told ET. ....