The IPO consisted of a current topic of Rs 4,994 crore and a proposal available on the market of Rs 2,741.50 crore
Powergrid InvIT’s Rs 7,735-crore preliminary public offering (IPO) was subscribed 4.83 events at closing. The first share sale by a state-run agency was subscribed 4.63 events throughout the licensed institutional customers (QIB) part and 4.92 events throughout the non-institutional investor (NII) class.
The IPO consisted of a current topic of Rs 4,994 crore and a proposal available on the market of Rs 2,741.50 crore. It acquired bids for shares worth Rs 37,360 crore as in the direction of a proposal of shares amounting to Rs 7,735 crore. The shares had been purchased throughout the worth band of Rs 99-100 a share.
The agency will take advantage of the IPO proceeds to supply loans to preliminary portfolio property, repay or pre-pay debt and for frequent firm features.
PowerGrid InvIT is owned by PowerGrid Corporation.