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The Rs 7,735-crore PowerGrid InvIT IPO received bids for 2,05,40,48,700 units against 42,54,25,000 units on offer, as per the NSE data
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Angel Broking said if Indian investors look beyond the immediate warning signs, there is a silver lining on the horizon
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The IPO comprises a fresh issue of shares worth Rs 4,993.48 crore and offer for sale to the tune of Rs 2,741.50 crore by selling shareholders.
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The issue received bids for 25.81 crore units as against 42.54 crore units on offer.
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The main objective of InvITs is to promote the infrastructure sector by encouraging more individuals to invest in it
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Power Grid Infrastructure Investment is owned by the state-run Power Grid Corporation of India
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Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.
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The price band for PowerGrid Infrastructure Investment Trust IPO has been fixed at Rs 99-100 a share
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ICICI Securities, Axis Capital, Edelweiss Financial Services and HSBC Securities and Capital Markets (India) are the book running lead managers to the issue, while KFintech is the registrar to the issue.
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Earlier a media report said that the company is considering filing the DRHP with Sebi.