PowerGrid InvIT IPO subscribed 61% on second day
The public issue of PowerGrid Infrastructure Investment Trust was subscribed 61% on Friday, the second day of the bidding.
The issue received bids for 25.82 crore equity shares against the issue size of 42.54 crore shares, according to stock exchange data.
The portion of the share sale reserved for qualified institutional investors was sub- scribed 38% on day two, while that reserved for non-institutional investors was subscribed 88%.
PowerGrid plans to raise nearly ₹7,735 crore via the public issue by issuing fresh shares worth ₹4,993.48 crore and an offer for sale of units held by PowerGrid worth ₹2,741.50 crore. The issue will close on 3 May.
