PowerGrid InvIT IPO subscribed 4.83 times on last day of subscription

The initial public offering (IPO) of PowerGrid Infrastructure Investment Trust (InvIT) wassubscribed 4.83 times on the last day of subscription on Monday (May 3, 2021).

The issue was valued at Rs 77,350 million and it received bids for 2,054,048,700 units against 425,425,000 units on offer. The IPO comprised a fresh issue of shares of value Rs 49,934.8 million and an offer for sale worth Rs 27,415 million by selling shareholders. The institutional investors’ category was subscribed 4.63 times and other investors were subscribed 5.07 times. The range of price for the offer was Rs 99-100 per unit.

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