The IPO included fresh issue of Rs 4,994 crore and sell of Rs 2,741.50 crorePowergrid InvIT's Rs 7,735-crore initial public offering (IPO) was subscribed 4.83 times at closing.
The very first share sale by a state-run company was subscribed 4.63 times in the qualified institutional buyers (QIB) sector and 4.92 times in the non-institutional financier (NII) category.The IPO consisted of a fresh issue of Rs 4,994 crore and a market of Rs 2,741.50 crore.
It received bids for shares worth Rs 37,360 crore as versus a deal of shares totaling up to Rs 7,735 crore.
The shares were offered in the rate band of Rs 99-100 a share.The business will use the IPO continues to offer loans to initial portfolio properties, pay back or pre-pay debt and for basic business purposes.PowerGrid InvIT is owned by PowerGrid Corporation.