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Powergrid InvIT IPO April 30 2021POWERGRID InvIT IPO April 2021 Date, Price, GMP, D

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What is Powergrid InvIT IPO?

The subscription for PowerGrid Infrastructure Investment Trust (InvIT)'s public offering (IPO) began on April 29. The subscription will end on May 3rd. This is the country''s first infrastructure investment trust IPO, and it will be the third InvIT to be listed on Indian stock exchanges, following IRB InvIT and India Grid Trust, both of which went public in 2017. The shares are expected to be listed on both the BSE and the NSE.

PowerGrid Infrastructure Investment Trust is owned by India's PowerGrid Corporation (PowerGrid InvIT). PowerGrid Infrastructure Investment Trust IPO includes a price-band ranging from INR 99-100 per unit. It includes fresh issue of 4,993.48 crores and 2,741.51 crores offer for sale. Total size of the IPO is valued at 7,735 crores. The proceeds from the IPO will be used to provide loans to initial portfolio properties, repay or pre-pay debt, and for other general purposes

Minimum bid (lot size) for the investors is 1,100 units and multiples of it thereafter. 25% of the issue is reserved for allocation to the non-institutional investors. Transfer of shares to demat account is dated on 11th May, 2021. Whereas the listing day for the IPO is on 17th May, 2021.

SBI Mutual Fund, HDFC MF, Tata MF, Tata AIA Life Insurance Company, Tata AIG General Insurance Company, SBI Life Insurance Company, UTI MF, and ICICI Prudential MF were among the anchor investors who contributed 3,480 crores ahead of the IPO.

An infrastructure investment trusts (InvIT) is a form of mutual fund that enables individuals and institutions to invest directly in infrastructure projects and earn a consistent return.

Investors should subscribe to the issue because it has the potential to have lucrative and predictable returns. Investors seeking a 9-12 percent yield from a stable cash flow should consider this issue. The company management also stated that the InvIT is expected to generate Rs 1,150 crore in distributable cash flow over the next three years. This equates to an 11 percent cash flow yield.

Apply for Power Grid InvIT IPO at Indira Securities

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