PowerGrid InvIT IPO: The IPO of Power Grid Infrastructure Investment Trust, owned by Power Grid Corporation of India, opens on April 29. The issue will open for investment on April 29 and will close on May 3, 2021. The company has fixed the price of the shares for its IPO 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.
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. InvIT is under a collective investment scheme that acts 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.
When will the IPO open: April 29, 2021
When will the IPO close: May 3, 2021
Share Allotment Date: May 10, 2021
Refund date: May 11, 2021
When will the shares come in the demat account: May 11, 2021
IPO Listing Date: May 17, 2021
Where will the fund be used
The amount received from the IPO will be used by the company for the repayment of the loan, in addition to the loan of the general corporate. In this IPO, 75 percent is reserved for institutional investors and 25 percent is reserved for non-institutional investors.
At least how much investment is necessary
Common investors will be able to bid for at least 1100 units in this IPO. If you look at the price band of 100 rupees, then you will have to invest 1.1 lakh rupees in this IPO. After this, bids can be made in the coefficient of 1,100.
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 to this offer.