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PowerGrid InvIT expected to announce IPO share allotment next week

The funds will be refunded to ineligible investors around May 11 and the listing of PowerGrid InvIT will take place around May 17, 2021.

May 04, 2021 / 01:38 PM IST
 
 
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PowerGrid Infrastructure Investment Trust (InvIT) is expected to announce the IPO share allotment in the coming week after a strong subscription to the offer on May 3.

It is the first InvIT by a government company and the public issue was oversubscribed by 4.83 times during April 29-May 3, 2021.

Institutional investors (FIIs, DFIs, Banks, Insurance, MFs), and other investors provided a strong response to the issue as their reserved portion was subscribed 4.63 times and 5.07 times, respectively.

PowerGrid InvIT, backed by Power Grid Corporation of India, garnered Rs 7,735 crore through the public issue which comprised a fresh issue of Rs 4,993.48 crore and the rest was an offer for sale by selling unitholders.

The net proceeds from its fresh issue will be utilised for providing loans to the Initial Portfolio Assets for repaying of borrowings, and general corporate purposes.

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Here is how to check the allotment status

The company in consultation with merchant bankers will finalise the basis of allotment around May 10, as per the schedule available in the prospectus.

Investors can check the allotment status on the website of the registrar to the IPO. One has to select - PowerGrid Infrastructure Investment Trust in the dropdown. In case you check box Application Number, select ASBA/NON ASBA, enter Application Number; In case of DPID/Client ID, select NSDL/CDSL, enter DPID and Client ID; For PAN, enter PAN Number. Finally, enter Captcha and click on submit.

If the provided information by an investor is correct, then the units applied for and units allocated will appear on the screen.

The funds will be refunded to ineligible investors around May 11 and the listing of PowerGrid InvIT will take place around May 17, 2021.

 
Moneycontrol News
first published: May 4, 2021 01:38 pm

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