Powergrid InvIT’s Rs 7,735-crore preliminary public providing (IPO) was subscribed 4.83 occasions at closing. The primary share sale by a state-run firm was subscribed 4.63 occasions within the certified institutional consumers (QIB) phase and 4.92 occasions within the non-institutional investor (NII) class.
The IPO consisted of a recent difficulty of Rs 4,994 crore and a proposal on the market of Rs 2,741.50 crore. It acquired 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 worth band of Rs 99-100 a share.
The corporate will utilise the IPO proceeds to offer loans to preliminary portfolio belongings, repay or pre-pay debt and for basic company functions.
PowerGrid InvIT is owned by PowerGrid Company.