Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

POWERGRID Infrastructure Investment Trust to open IPO of its Units on April 29, 2021 and close on May 3, 2021

Posted On: 2021-04-26 12:58:07 (Time Zone: UTC)


The initial public offering ("IPO" or "Offer") of units of POWERGRID Infrastructure Investment Trust ("POWERGRID InvIT"), an InvIT set-up to own, construct, operate, maintain and invest as an infrastructure investment trust as permissible in terms of the InvIT Regulations, including in 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 ₹49,934.84 million ("Fresh Issue") and the Selling Unitholder is offering Units aggregating up to ₹27,415.08 million. The Anchor Investor Bidding Date shall be one Working Day prior to the Bid/Offer Opening Date i.e. April 28, 2021.

The Units of POWERGRID InvIT are proposed to be listed on BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE", together with BSE, the "Stock Exchanges"). The Trust has received in-principle approvals from BSE and NSE for listing of the Units pursuant to letters dated February 2, 2021 and February 3, 2021, respectively. This Offer will constitute at least 10% of the outstanding Units on a post-Offer basis.

The Net Proceeds from the Offer will be utilised towards the following objects: (i) providing loans to the Initial Portfolio Assets for repayment or pre-payment of debt, including any accrued interest, availed by the Initial Portfolio Assets; and (ii) for general purposes.

This Offer is being made through the Book Building Process and in compliance with the [InvIT Regulations and the SEBI Guidelines,] wherein not more than 75% of the Offer shall be available for allocation on a proportionate basis to Institutional Investors, provided that the Investment Manager and the Selling Unitholder may, in consultation with the Lead Managers, allocate up to 60% of the Institutional Investor Portion to Anchor Investors on a discretionary basis in accordance with the InvIT Regulations and the SEBI Guidelines.

Further, not less than 25% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Investors, in accordance with the InvIT Regulations and the SEBI Guidelines, subject to valid Bids being received at or above the Offer Price.

Bids can be made for a minimum lot of 1,100 Units and in multiples of 1,100 Units thereafter by Bidders other than the units subscribed for by Anchor Investors.

IDBI Trusteeship Services Limited is the Trustee, while Power Grid Corporation of India Limited is the Sponsor. POWERGRID Unchahar Transmission Limited is the Investment Manager.

The Lead Managers to the Offer are ICICI Securities Limited, Axis Capital Limited, Edelweiss Financial Services Limited and HSBC Securities and Capital Markets (India) Private Limited.

Shares of POWER GRID CORPORATION OF INDIA LTD. was last trading in BSE at Rs.215.3 as compared to the previous close of Rs. 211.2. The total number of shares traded during the day was 1191676 in over 5268 trades.

The stock hit an intraday high of Rs. 216.4 and intraday low of 209.1. The net turnover during the day was Rs. 253077306.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Nirma Group backed, Nuvoco Vistas files for 5k cr IPO

Udaipur based GR Infraprojects Ltd files for IPO

Macrotech Developers IPO final day: Issue subscribed 1.37 times, QIB portion booked 3.06 times

Macrotech Developers Limited subscribed 35% on Day 2

Macrotech Developers Limited subscribed 27%, QIB portion booked 59% on Day 1

Vadodara based Tatva Chintan Pharma Chem Limited plans for IPO files DRHP with SEBI

Macrotech Developers Limited IPO to open on April 7, 2021, closes on April 9, 2021

Haridwar based, V-Marc India subscribed 1.54 times on issue closing

SME IPO V-Marc India subscribed 63% on Second Day

Grilled to Perfection: Barbeque Nation subscribed 5.98 times overall

Barbeque Nation overall subscribed 1.98 times on Day 2

Barbeque-Nation raises Rs. 202 Cr from 15 Anchor Investors

V-Marc India Limited Initial Public Offering of Equity Shares opens

Gujarat based, Exxaro Tiles files for Rs. 160 cr IPO

Paras Defense And Space Technologies Ltd. files for IPO

Craftsman Automation Limited IPO to open on March 15, 2021, Price band fixed at ₹1,488 to ₹1,490 per Equity Share

Laxmi Organic Industries Limited IPO to open on Monday, March 15, 2021

Anupam Rasayan India Limited IPO of Equity Shares to open on Friday, March 12, 2021

MTAR Technologies sky-rockets with record 200.79 times overall subscription on Day 3

Utkarsh Small Finance Bank files for Rs. 1350 cr IPO

MTAR Technologies overall subscribed 10.27 times on Day 2

MTAR Technologies IPO skyrockets 3.68 times on Day 1

Easy Trip Planners Limited IPO to open on Monday, March 8, 2021

MTAR Tech raises 179 Cr from 15 Anchor Investors

Specialty Chemicals Company Anupam Rasayan receives SEBI approval for 760 Cr IPO

Kolkata Steel Major, Shyam Metalics & Energy files for Rs. 1107 cr IPO

MTAR Technologies Ltd. Public Offering of Equity Shares opening on March 3, 2021

Blackstone promoted, Global Automotive Supplier Sona Comstar files for Rs. 6000 cr IPO

Laxmi Organic, MTAR receive SEBI Nod for IPO

Wire & Cable Manufacturer, V-Marc files for IPO

RailTel IPO Overall Subscribed 42.42 times on Day 3

RailTel IPO Fully Subscribed on Day 1, overall 2.64 times

Aavishkaar Group promoted, Arohan Financial Files for IPO

RailTel Corporation of India Limited to open its initial public offering on February 16, 2021

Agro-Chemical Technical Lead, India Pesticides Ltd Files for Rs. 800 cr IPO

Brookfield India Real Estate Trust to open IPO on February 03, 2021 and close on February 05, 2021

Amidst Market Fall, Home First IPO sees stellar response; subscribed 27x on Final Day

Stove Kraft Limited raises ₹185.68 crore from 32 anchor investors at an upper price band of ₹385 per equity share

Colorful response: Indigo Paints IPO Subscribed 117.02 times on Final Day

Home First Finance Company India Ltd's IPO subscribed 2.22 times overall on Day 2

Indigo Paints subscribed 6.92 times on Day 2

Home Run on Day 1 : Home First IPO Fully Subscribed

Stove Kraft Limited IPO to open on January 25, 2021

Home First Finance Company Limited IPO of Equity Shares to open on Thursday, January 21, 2021

Indigo Paints Limited, to open its Initial Public Offer on January 20, 2021

Indian Railway Finance Corporation Limited IPO to open on Monday, January 18, 2021

Specialty Chemicals Company Anupam Rasayan files for Rs. 760 Cr IPO

Aerospace, Defense and Clean Energy Ancillary, MTAR Tech files for IPO

Antony Waste Handling Cell Limited raises Rs 89.99 crore from 10 anchor investors

Specialty Chemicals Company, Laxmi Organics files for 800 cr IPO


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020