Companies

PowerGrid InvIT lists at 4% premium

PTI New Delhi | Updated on May 14, 2021

Earlier, the IPO of PowerGrid Infrastructure Investment Trust was subscribed 4.83 times

Shares of PowerGrid Infrastructure Investment Trust listed at a premium of 4 per cent on Friday against its issue price of ₹100.

The stock made its debut at ₹104, registering a gain of 4 per cent on the BSE. It further jumped 4.97 per cent to ₹104.97 as trade progressed.

Also read: Four things you probably didn’t know about InvITs

At the NSE, it listed at ₹104, with a premium of 4 per cent.

Earlier this month, the initial public offer of PowerGrid Infrastructure Investment Trust was subscribed 4.83 times.

The price range for the offer was at ₹99-100 per unit.

PowerGrid Infrastructure Investment Trust (PowerGrid InvIT) is owned by state-owned PowerGrid Corporation of India.

InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time.

Published on May 14, 2021

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