/ India Grid Trust IPO Subscribed By 1% On The First Day Of Subscription ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 17 May 2017

To reap the benefits of ongoing positivity floating in the markets, the India Grid Trust has come up with its initial public offering (IPO) to raise the fresh issue of around Rs 2250 Cr.

The IPO issue has opened today and will close on May 19, 2017. The total issue size stands at 12,62,78,838 units. As per the data available with the National Stock Exchange (NSE), the total bids received stood at 7,34,832 as of 1100 hours. The data shows that the IPO issue has got subscribed by 1% or 0.01 times.

The security type comes under the category of infrastructure investment trusts (InvITs). The IPO follows the book building procedure wherein the price band is set at Rs 98 to Rs 100 per units.

The bid lot consists of 5103 units and minimum bid quantity is set at 10,206 units and in multiples of 5103 units thereafter. The maximum bid quantity is capped at 12,62,78,838 units.

Edelweiss Financial Services Limited, Morgan Stanley India Company Private Limited and Citigroup Global Markets India Private Limited are the book running lead managers for the issue.

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