PTI
April 29, 2021 / 08: 15 PM IST
PowerGrid Infrastructure Investment Have faith on Wednesday raised a exiguous over Rs 3,480 crore from anchor merchants sooner than its initial public supply, which opens for subscription on Thursday.
It has been made up our minds to allocate 34,80,74,100 gadgets at Rs 100 apiece to 47 anchor merchants, aggregating the full to Rs 3,480.74 crore, in accordance to a circular uploaded on BSE web plight.
Among the many anchor merchants are SBI Mutual Fund (MF), HDFC MF, Tata MF, Fidelity Funds, Tata AIA Lifestyles Insurance Company, Tata AIG General Insurance Company, SBI Lifestyles Insurance Company, UTI MF, ICICI Prudential MF, Sundaram MF, Rainbow Investments Ltd and CPP Investment Board Non-public Holdings.
PowerGrid Infrastructure Investment Have faith (PowerGrid InvIT) is owned by convey-owned PowerGrid Corporation of India.
This might perchance perchance well be the principle Infrastructure Investment Have faith (InvIT) in the nation to be floated by a public sector company.
The IPO contains fresh issue of shares worth Rs 4,993.48 crore and supply on the market to the tune of Rs 2,741.50 crore by promoting shareholders.
It has mounted a ticket band of Rs 99-100 per unit for its Rs 7,735 crore IPO, that will initiate for public subscription on April 29 and shut on May perchance 3.
The PowerGrid InvIT gadgets are proposed to be listed on the National Inventory Alternate and the BSE.
InvITs are instruments on the sample of mutual funds and are designed to pool runt sums of money from a more than just a few of merchants to make investments in resources that give cash chase along with the ride over a duration of time.
The proceeds from the supply will be utilised for offering loans to the initial portfolio resources for repayment or pre-payment of debt, including any accrued hobby, and for overall capabilities.
The belief''s initial portfolio can have 5 resources -- PVTL (PowerGrid Vizag Transmission Ltd), PKATL (PowerGrid Kala Amb Transmission Ltd), PPTL (PowerGrid Parli Transmission Ltd), PWTL (PowerGrid Warora Transmission Ltd) and PJTL (PowerGrid Jabalpur Transmission Ltd).
PowerGrid InvIT has been plot-up to personal, impact, operate, care for and make investments as an infrastructure investment belief as permissible in phrases of the InvIT Guidelines, including in vitality transmission resources in India.
ICICI Securities, Axis Capital, Edelweiss Financial Products and companies and HSBC Securities and Capital Markets (India) are the lead managers for the supply.
Whereas markets regulator Sebi first notified the rules for InvITs and REITs (Actual Property Investment Trusts) in 2014, handiest just a few such trusts have listed their gadgets in the nation up to now.
The regulator has prolonged varied relaxations for record of these trusts and such trusts are licensed in some evolved markets.
