POWERGRID InvIT Rs 5K cr IPO opens on April 29
By IANS |
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Power demand. (File Photo: IANS). Image Source: IANS News
Mumbai, April 26 : The initial public offering (IPO) of units of POWERGRID Infrastructure Investment Trust ( POWERGRID InvIT ), an InvIT set-up to own, construct, operate, maintain and invest in infrastructure and power transmission assets in India, will open on Thursday, April 29, 2021 at a price band of Rs 99 to Rs 100.
The offer closes on Monday May 3, 2021. POWERGRID InvIT is issuing Units aggregating up to Rs 4,993.484 crore and the Selling Unitholder is offering Units aggregating up to Rs 2,741.508 crore.
As per the schedule, the Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date i.e. April 28, 2021.
Power Grid fixes price band for its ₹7,735 crore InvIT IPO at ₹99-100
April 26, 2021
Issue opens on April 29 and closes on May 3
Power Grid Corporation of India has fixed the price band for the upcoming initial public offering of its Infrastructure Investment Trust (InvIT) at ₹ 99-100.
This will be the first InvIT launch by a State-owned company as the Central Government tests a new path for monetisation of income-generating assets. The InvIT is issuing units aggregating up to ₹4,993.48 crore, and Power Grid is additionally offering units aggregating up to ₹2,741.5 crore through offer for sale route. The offering will open on April 29 and close on May 3.
POWERGRID Infrastructure Investment Trust to open IPO of its Units on April 29, 2021 and close on May 3, 2021 equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
State-owned largest power transmission company Power Grid Corporation of India (PGCIL) launched its Infrastructure Investment Trust (InvIT), becoming the first public sector company to do so. After IndiGrid and IRB InvIT fund, Power Grid InvIT (PGInvIT) will be the third publicly listed InvIT in the country and second in the power transmission sector. PGInvIT has offered a price band of Rs 99-100 per unit for the public issue. The issue will open on April 29 and close on May 3. The InvIT will raise Rs 4,993.5 crore as fresh issuance and PGCIL is also providing an offer for sale of Rs 2,742 crore of existing units. PGCIL has offered five ‘initial portfolio assets’ at an enterprise value of Rs 10,384 crore for the proposed PGInvIT.