PowerGrid Infrastructure Investment Trust (PowerGrid InvIT)’s preliminary public providing (IPO) has been subscribed 59 per cent on the finish of second day of bidding i.e. Friday. The challenge has acquired bids for 25,17,42,700 items out of the 42,54,25,000 items on provide. The shares are priced at Rs 99-100 per unit and the corporate is taking a look at elevating Rs 7,735 crore.
The IPO consists of a recent challenge of Rs 4,994 crore and a proposal on the market amounting to Rs 2,741.50 crore. Ahead of the IPO, PowerGrid InvIT raised Rs 3,480 crore from anchor buyers. The IPO proceeds shall be utilised for offering loans to preliminary portfolio property, compensation or pre-payment of debt and for basic functions.
This is the primary ever infrastructure funding belief providing by a state-owned firm within the nation and would be the third InvIT to be listed on Dalal Street.
PowerGrid Corporation of India is the proprietor of PowerGrid InvIT.