PowerGrid Facilities Financial investment Trust IPO will consist of a fresh issuance of Rs 4,994 crorePowerGrid Facilities Financial investment Trust (InvIT) will introduce its going public (IPO) on April 29.
The offer will close on May 3.
This is the first ever InvIT (infrastructure financial investment trust) IPO by a state-owned business and will only be the 3rd InvIT to be listed on the Indian bourses; IRB InvIT and India Grid Trust went public in the year 2017.
The shares are most likely to be listed on the BSE and NSE.The PowerGrid Facilities Investment Trust problem will make up a fresh issuance of Rs 4,994 crore and a market for an undisclosed amount.
The profits from the fresh problem will be made use of for repayment or pre-payment of financial obligation and for general purposes.An InvIT is a cumulative investment plan, similar to a shared fund, that helps people and institutional financiers to put cash directly into facilities tasks such as roadways, transmission lines and renewable resource jobs, and make a stable yield based on the monetary efficiency of the tasks concerned.ICICI Securities, Axis Capital, Edelweiss Financial Providers and HSBC Securities and Capital Markets India are the lead supervisors to the problem, while KFintech is the registrar to the concern.