Powergrid is the first government infrastructure investment trust to raise funds from an IPO.
Power Grid Corporation of India is the largest power transmission company in the country and a sponsor company of Power Grid Infrastructure Investment Trust (PowerGrid InvIT).
New Delhi. PowerGrid Infrastructure Investment Trust (PowerGrid InvIT) on Friday listed on BSE and NSE at Rs 104. The issue price of the company’s IPO was Rs 100 and its listing was done at a 4 per cent premium. It is the first Government Infrastructure Investment Trust to raise funds from an IPO. Shares of Powergrid Infrastructure Investment Trust were trading up 3.5% at Rs 103.50 on BSE on Friday at 10.27 am. At that time, the volume on the BSE was 10.27 lakh units. While on NSE it was trading up 3.45 per cent at Rs 103.45 while the volume was 2,64,17,100 units. During the trading till date, PowerGrid InvIT’s shares had reached the highest level of Rs 104.97 and lower level of Rs 103.40 on BSE. Also read: Success Story: TPA left business to take care of parents, now has a portfolio of 3000 crores Power Grid Corporation of India is the largest power transmission company in the countryThe Power Grid Corporation of India is the largest power transmission company in the country and the sponsor company of the Power Grid Infrastructure Investment Trust. The Power Grid Corporation is the third largest Central Public Sector Enterprise in the country based on the length of the gross block and transmission line. The company has 85 percent stake in India’s Inter Regional Power Transfer Capacity. PowerGrid Unchahar Transmission is a wholly owned subsidiary of Power Grid Corporation and Investment Manager of Investment Trust Company. Also read: If you are buying a dream car, then keep these five things in mind; prices will benefit Public unit holders will own 85% stake
Investment Trust is the main sponsor power grid corporation of the company. Hence, it will have to maintain at least a 15 per cent stake in the company. The remaining 85 percent will be held by public unit holders. The sponsor, ie Power Grid Corporation, holds a 100 per cent stake in the investment manager company. Also read: This bank made changes in FD rates, you can also avail higher interest rate, know everything