PowerGrid InvIT fixes IPO mark band at Rs 99-100 per unit

The PowerGrid InvIT IPO contains a fresh arena of Rs 4,993.48 crore and a advice for sale of 2,741.51 crore by selling unitholders.

April 26, 2021 / 03: 51 PM IST

IPO (Representative image)

IPO (Manual image)

PowerGrid Infrastructure Investment Belief, owned by teach-lumber Strength Grid Company of India, has mounted the value band for its public offer at Rs 99-100 per unit.

The realm will begin for subscription on April 29 and the equivalent will shut on Can also merely 3, 2021, while the anchor e book will begin for bidding for a day on April 28.

The public arena contains a fresh arena of Rs 4,993.48 crore and a advice for sale of 2,741.51 crore by selling unitholders.

An InvIT is a collective investment plan same to a mutual fund, which enables disclose investment of cash from particular person and institutional investors in infrastructure initiatives to plot a shrimp fragment of the profits as return.

The ranking proceeds from the fresh arena will most likely be utilised for offering loans to the initial portfolio resources for repayment or pre-payment of debt, and total corporate functions.

Traders, rather than anchor investors, can repeat for no longer no longer as a lot as 1,100 units and in just a few of 1,100 units thereafter.

PowerGrid InvIT is determined as a lot as appreciate, construct, operate, retain and invest as an infrastructure investment belief as permissible by come of the InvIT Guidelines, at the side of in energy transmission resources in India. Its sponsor, Strength Grid Company of India, is moreover performing in the capability of InvIT's project manager.

The PowerGrid InvIT's Preliminary Portfolio Assets comprise five energy transmission initiatives located across five states of India. The initiatives comprise 11 transmission lines, at the side of six 765 kV transmission lines and five 400 kV transmission lines, with a total circuit dimension of approximately 3,698.59 ckm, and three substations with 6,630 MVA of an aggregate transformation capability and 1,955.66 km of optical ground wire.

"We contain a sure outlook in direction of InvIT," Yash Gupta, Fairness Learn Affiliate at Angel Broking talked about.

Moneycontrol turned into once the first to describe the initiating PowerGrid InvIT IPO.

ICICI Securities, Axis Capital, Edelweiss Financial Services, and HSBC Securities and Capital Markets (India) are the e book working lead managers to the offer.

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