PowerGrid Infra closes 3% premium on listing

Shares of PowerGrid Infrastructure Investment Trust (InvIT) closed at 3% premium on Friday after its initial public offering was subscribed 4.83 times last week.

PowerGrid Infra shares closed at ₹103 on BSE, up 3% from their issue price of ₹100 a share. The benchmark 30-share Sensex gained 0.09% to 48,732.55 points.

PowerGrid Infra shares opened at ₹104 on Friday, compared with the issue price of ₹100 per share. Earlier in the day, they touched a high of ₹104.97 and a low of ₹102.84.

The InvIT raised ₹7,735 crore via a public issue by issuing fresh shares worth ₹4,993.48 crore and an offer for sale of ₹2,741.50 crore by PowerGrid.