On its maiden day of trading, shares of PGlnvlT, the infrastructure investment trust (InvIT) sponsored by state-run electricity transmission utility Power Grid Corporation of India (PGCIL), closed at 2.98% above the issue price of Rs 100 on the BSE.
It reached the highest point of 4.97% premium in the day, while the lowest was 2.84%. The closing price of Rs 102.98 was, in fact, 0.98% lower than the opening price of Rs 104 per share. PGCIL is seeking to monetise some of its transmission assets through PGInvIT, which will contribute to the government’s asset monetisation programme. At Friday-end, PGInvIT’s market capitalisation was at Rs 9,371.2 crore.
