PowerGrid InvIT IPO receives 59% subscription on second day
POWER & RENEWABLE ENERGY

PowerGrid InvIT IPO receives 59% subscription on second day

Indian government electricity board PowerGrid Infrastructure Investment Trust's (PowerGrid InvIT) IPO has received 59% subscriptions at the end of the second day of the bidding process.

The Maharatna PSU's InvIT IPO opened on April 29 at a price range of Rs 99 to Rs 100. The company plans to raise Rs 7,735 crore through a fresh issue of up to Rs 4,993.5 crore and existing investors offering units worth up to Rs 2,741.5 crore. On the first day of subscription, the offer was subscribed 10% as the issue received bids for 4,32,42,100 units against 42,54,25,000 units on offer. The institutional investors category was subscribed 3%, while those for other investors were 19%.

On the second day, the issue received a 59% subscription. By the end of the day on April 30, the issue had received bids for 25,17,42,700 units out of the 42,54,25,000 units on offer for subscription.

The initial share sale is being done through the book-building process, around three-fourths of this will be allotted to institutional investors. Of this, 60 % has been reserved for anchor investors. Not less than 25% of the offer will be allotted on a proportionate basis to non-institutional investors, subject to valid bids being received at or above the offer price.

This is the first-ever infrastructure investment trust offering by a state-owned company in India and will be the third InvIT to be listed on Dalal Street.

Image Source


Also read: Tata Power cancels energy InvIT deal with Malaysia’s Petronas

Indian government electricity board PowerGrid Infrastructure Investment Trust's (PowerGrid InvIT) IPO has received 59% subscriptions at the end of the second day of the bidding process. The Maharatna PSU's InvIT IPO opened on April 29 at a price range of Rs 99 to Rs 100. The company plans to raise Rs 7,735 crore through a fresh issue of up to Rs 4,993.5 crore and existing investors offering units worth up to Rs 2,741.5 crore. On the first day of subscription, the offer was subscribed 10% as the issue received bids for 4,32,42,100 units against 42,54,25,000 units on offer. The institutional investors category was subscribed 3%, while those for other investors were 19%. On the second day, the issue received a 59% subscription. By the end of the day on April 30, the issue had received bids for 25,17,42,700 units out of the 42,54,25,000 units on offer for subscription. The initial share sale is being done through the book-building process, around three-fourths of this will be allotted to institutional investors. Of this, 60 % has been reserved for anchor investors. Not less than 25% of the offer will be allotted on a proportionate basis to non-institutional investors, subject to valid bids being received at or above the offer price. This is the first-ever infrastructure investment trust offering by a state-owned company in India and will be the third InvIT to be listed on Dalal Street. Image Source Also read: Tata Power cancels energy InvIT deal with Malaysia’s Petronas

Next Story
Infrastructure Urban

Honeywell Unveils AI Tools to Enhance Green Hydrogen Efficiency

"Honeywell has introduced Honeywell Protonium, a comprehensive suite of advanced technologies driven by artificial intelligence (AI) and machine learning (ML), aimed at improving the efficiency, scalability, and cost-effectiveness of green hydrogen production. The technology is designed to address key industry challenges such as power intermittency, high production costs, and carbon intensity, thereby facilitating the wider adoption of clean hydrogen as a sustainable energy source.The first deployment of Honeywell Protonium will take place at Aternium, a US-based large-scale clean hydrogen pro..

Next Story
Infrastructure Transport

NHAI Plans Link Road for Expressway Access

The National Highways Authority of India (NHAI) is evaluating the construction of an 18 km road to connect the Bengaluru-Chennai Expressway, within Karnataka, to the Bengaluru-Kolar Highway (NH 75). This strategic link is aimed at improving connectivity for motorists travelling towards the Andhra Pradesh border, including destinations like Chittoor and Tirupati. Currently, a 68 km section of the expressway — from Hoskote to Bethamangala near Kolar Gold Fields (KGF) — is operational. However, due to the absence of seamless end-to-end connectivity, users are forced to navigate through narr..

Next Story
Infrastructure Transport

Bengaluru to Get 40-Km Signal-Free Transit Corridor

In a major push to modernize Bengaluru’s transport infrastructure, the Karnataka Government has approved the construction of a 32.15 km double-decker flyover with a metro line along the city’s Outer Ring Road. This transformative initiative aims to ease the daily commute for thousands and provide lasting relief from the city's chronic traffic congestion. In tandem, an additional 8 km elevated stretch will be constructed on Magadi Road as part of Namma Metro’s Phase III expansion. Together, these projects will add over 40 km of new, signal-free metro routes—making daily travel faster, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?