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The initial public offer of IndiGrid InvIT got oversubcribed 1.33 times on the final day. While the portion set aside for institutional investors was subscribed 1.14 times, that for non-institutional investors was subscribed 1.57 times.
The fund plans to raise ₹2,250 crore in the price band of ₹98-100 per unit.
This is the second InvIT IPO after IRB InvIT Fund, which was oversubscribed 8.5 times.
IRB InvIT Fund, the first infrastructure trust to list on the exchanges, listed at par and closed slightly below the issue price at ₹101.7 on the NSEon Thursday. The fund came further under pressure on Fridayclosing at ₹100.5, down 1.28 per cent.
IndiGrid was established in October 2016 by Sterlite Power Grid Ventures (sponsor) and is registered with SEBI pursuant to the InvIT Regulations. The sponsor is one of the leading independent power transmission companies operating in the private sector.
The sponsor owns 11 inter-State power transmission projects with a total network of 30 power transmission lines of 7,733 ckms and nine substations having 13,890 MVA of transformation capacity.
Of the 11 inter-State power transmission projects owned by the sponsor, IndiGrid will initially acquire two projects (Initial Portfolio Assets) with a total network of eight power transmission lines of about 1,936 ckms and two substations having 6,000 MVA of transformation capacity across four States.
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