PowerGrid InvIT IPO Open Today: If you failed to earn from the IPO that came in the year 2021, then do not take tension. On April 29, you have a chance to invest in an IPO of a government company. In fact today, on April 29, the IPO of Power Grid Infrastructure Investment Trust, owned by Power Grid Corporation of India, is opening. This issue will be open for investment from 29 April to 3 May 2021. The size of the IPO is 7734 crores. The PowerGrid InvIT IPO includes a fresh issue of Rs 4,993.48 crore and an offer for sale of Rs 2,741.51 crore to be placed by the unit holders. If you are thinking of investing in it, then it is important to know some things first.
Price band
Power Grid Infrastructure Investment Trust has fixed the price of the share for its IPO at Rs 99-100. The size of the IPO is 7734 crores. The PowerGrid InvIT IPO includes a fresh issue of Rs 4,993.48 crore and an offer for sale of Rs 2,741.51 crore to be placed by the unit holders.
Lot size
General investors will have to bid for at least 1100 units in the IPO of Power Grid Infrastructure Investment Trust. If you look at the price band of Rs 100, then investors will have to invest Rs 1.1 lakh in this IPO. After this, bids can be made in multiples of 1,100.
Important date
This IPO will be open for investment from 29 April to 3 May. The share allotment date is 10 May 2021. The share will come in the demat account on 11 May 2021. The IPO listing date is 17 May 2021. The anchor of the issue was opened for book bidding on 28 April.
Where will the fund be used
The proceeds from the IPO will be used by the company for the purpose of general corporate in addition to the loan for the repayment of the loan. 75 per cent of this IPO is reserved for Institutional Investors. Out of which 60 percent is reserved for anchor investors. While 25 per cent is reserved for non-institutional investors.
Book running lead manager
ICICI Securities, Axis Capital, Edelweiss Financial Services and HSBC Securities and Capital Markets (India) are acting as book running lead managers of this offer.
credit rating
ICRA: AAA / Stable
CARE: AAA/Stable
CRISIL : AAA/Stable
What is invIT?
Explain that the investment is under a collective investment scheme that works like a mutual fund. In this, individual institutional investors can invest directly in an infrastructure project and can earn as a return from the income of that project. Explain that this decision of Power Grid Corporation has come at a time when the government has set its disinvestment target for the financial year 2022 to Rs 175 lakh crore.
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