PowerGrid InvIT sails through with 4.83 times subscription

The public issue of PowerGrid Infrastructure Investment Trust, the first IPO of an InvIT by. state owned entity, was fully subscribed on Monday, the final day of the bidding

The issue was subscribed 4.83 times at closing.

The issue received bids for 2.05 billion equity shares against the issue size of 425.43 million shares, according to stock exchange data.

At the upper end of the Rs100 price band for the issue, the issue drew bids worth roughly ₹20547 crore

According to data available with the stock exchanges, the portion set aside for qualified institutional buyers (QIBs) received 1.07 billion bids against 232.05 million on offer or subscribed 4.63 times, while that reserved for non-institutional investors received 980.36 million bids versus 193.38 million on offer or subscribed 5.07 times