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POWERGRID Infrastructure Investment Trust was trading at Rs 103.55 at 11:08 IST on the BSE, a premium of 3.55% over the initial public offer (IPO) price of Rs 100.
Units of the infrastructure investment trust were listed at Rs 104, at a premium of 4% to the initial public offer (IPO) price. So far, the units have hit a high of Rs 104.97 and low of Rs 103.40. On the BSE, 10.30 lakh units were traded on the counter so far.
The IPO of POWERGRID Infrastructure Investment Trust (PowerGrid InvIT) was subscribed 4.83 times. The issue opened for bidding on 29 April 2021 and it closed on 3 May 2021. The price band of the IPO was Rs 99-100.
Powergrid commissions transmission line for renewable projects in Rajasthan
May 14, 2021
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The 765kV line will transmit electricity from renewable energy projects in Rajasthan’s special economic zones
Powergrid Corporation of India on Friday said it has commissioned the Ajmer (PG)–Phagi 765kV D/c line that will transmit electricity from renewable energy projects in Rajasthan’s special economic zones.
Powergrid Ajmer Phagi Transmission Ltd, a special purpose vehicle, commissioned the project on May 6 on a build, own, operate and maintain basis, Powergrid said in a statement.
The renewable energy projects are based in the 3.5 GW Bhadla complex, the 3.5GW Fatehgarh complex and the 1.85GW Bikaner complex. Powergrid won the project in an auction in 2019 with a levelised annual tariff bid of ₹61.33 crore for 36 years.
More power to InVTs
The government’s focus on clean energy will drive big investments
With the focus on infrastructure financing and criticality of infrastructure from the country’s economic growth perspective, Infrastructure Investment Trust (InVT) regulations were introduced by market regulator SEBI in September 2014.
InVT is mainly a collective investment vehicle to enable developers of infrastructure to monetise their assets by pooling them under a single entity (trust). Subsequent amendments to InVT regulations by SEBI have also remained favourable most notably being the increase in leverage cap from 49 per cent to 70 per cent subject to certain conditions for publicly listed InVTs as well as no restriction on leverage for private unlisted InVT.