Power Grid Corporation of India, grew gradually on the second day of the bidding process on Friday. The issue was subscribed 59 per cent.
By 5:00 pm on Friday, the issue received bids for 25,17,42,700 units out of the 42,54,25,000 units on offer for subscription.
The InvIT has been touted as a good long-term option for investors looking for assured 10-12 per cent returns as analysts expect the InvIT to comfortably generate that much yield annually.
The infrastructure trust is a first of its kind offering by a state-owned entity in India and is priced at Rs. 99-100 per unit. Power Grid InvIT is looking to raise Rs 7,735 crore through the issue which includes a fresh issue as well as an offer for sale from the sponsor.