The IPO consisted of contemporary concern of Rs 4,994 crore and provide on the market of Rs 2,741.50 crore
Powergrid InvIT’s Rs 7,735-crore preliminary public providing (IPO) was subscribed 4.83 instances at closing. The first share sale by a state-run firm was subscribed 4.63 instances within the certified institutional consumers (QIB) section and 4.92 instances within the non-institutional investor (NII) class.
The IPO consisted of a contemporary concern of Rs 4,994 crore and a proposal on the market of Rs 2,741.50 crore. It obtained bids for shares value Rs 37,360 crore as towards a proposal of shares amounting to Rs 7,735 crore. The shares had been offered within the value band of Rs 99-100 a share.
The firm will utilise the IPO proceeds to supply loans to preliminary portfolio belongings, repay or pre-pay debt and for normal company functions.
PowerGrid InvIT is owned by PowerGrid Corporation.
