/ India Grid Trust InvIT IPO To Open For Subscription From Wednesday ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 16 May 2017

The initial public offer (IPO) of India Grid Trust to raise Rs 2,250 crore will open for bidding from Wednesday. The issue will open for subscription on May 17, 2017 and close on May 19, 2017. The IPO is to be listed on both NSE and BSE.

It is the second in infrastructure investment trust (InvIT) segment, will open on May 17 and close on May 19. The price band is of Rs 98-100 per unit.

IndiGrid is an infrastructure investment trust established to own inter-state power transmission assets in India. Sterlite Power Grid Ventures and Sterlite Investment Managers are the sponsor and investment manager, respectively of IndiGrid. Bids can be made for a minimum of 10,206 units and in multiples of 5,103 units thereafter.

The listing of instruments enables promoters of infrastructure to monetise completed assets and raise funds for other long-term projects.

The main objective of the issue is providing loan to BDTCL and JTCL for repayment or pre-payment of debt (including any accrued interest and any applicable penalties) of banks, financial institutions, SGL1, SGL2.  Also the IPO’s objective is the repayment of any other long term and short term liabilities and capital expenditure creditors.

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