Powergrid InvIT public issue subscribed by 10 per cent on the first day

The public issue of Powergrid Infrastructure Investment Trust, the first InvIT offering by a state-owned entity, garnered 10 per cent subscription on April 29, 2021, the first day of the issue.

The issue received bids for 43.2 million equity shares against issue size of 425.4 million shares. The portion of the share sale reserved for qualified institutional investors was subscribed by 3 per cent on the day one, while that reserved for non-institutional investors was subscribed by 20 per cent. Earlier on April 28, 2021, PowerGrid InvIT raised nearly Rs 34.80 billion from anchor investors. It allotted units of the InvIT at Rs 100 a share, the upper end of the price band for the public offer to 47 institutional investors.

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