PowerGrid Infrastructure Investment Trust debuts with 4.00% premium at Rs 104.00
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PowerGrid Infrastructure Investment Trust makes a strong debut on the bourses with scrip got listed at Rs 104.00 on the Bombay Stock Exchange, a 4.00 per cent premium to its issue price of Rs 100.00. On the National Stock Exchange, the stock was listed at Rs 104.00. The company, which raised 77.35 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 7,734.99 lakhs shares.
The company, listed under IF Group Securities post its IPO, opened for subscription from Apr 29 to May 03. Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.
The company anticipates using the proceeds of the issue for Providing loans to the Initial Portfolio Assets for repayment or prepayment of debt, including any accrued interest,availed by the Initial Portfolio Assets General purposes. HSBC SECURITIES AND CAPITAL MARKETS (I) PVT LTD,Axis Capital Ltd.,Edelweiss Financial Services Ltd.,ICICI Securities Ltd as lead managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue. Meanwhile, the broader benchmark BSE Sensex closed trade at 48,690.80, down 471.01 points, or 0.95 per cent.
