 "PowerGrid Infrastructure Investment Trust IPO subscribed 4.83 times")
The IPO of PowerGrid Infrastructure Investment Trust (InvIT) garnered final subscription of 4.83 times. The institutional and non-institutional portions of the issue were subscribed 4.6 times and 5.1 times, respectively.
The price band for the IPO is in the range of Rs 99-100 per unit of Rs 100 each. The total issue size is Rs 7,735 crore.
The IPO comprises an offer for sale worth Rs 2,742 crore and fresh fundraise of Rs 4,993 crore. Analysts said the attractive yield on offer of up to 9 per cent appealed to investors.
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