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PowerGrid InvIT Lists With 4 % Premium

InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time.

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Shares of PowerGrid Infrastructure Investment Trust listed with a premium of 4 per cent on Friday against its issue price of Rs 100.

The stock made its debut at Rs 104, registering a gain of 4 per cent on the BSE. It further jumped 4.97 per cent to Rs 104.97 as the trade progressed.

At the NSE, it listed at Rs 104, with a premium of 4 per cent.

Earlier this month, the initial public offer of PowerGrid Infrastructure Investment Trust was subscribed 4.83 times.

Price range for the offer was at Rs 99-100 per unit.

PowerGrid Infrastructure Investment Trust (PowerGrid InvIT) is owned by state-owned PowerGrid Corporation of India.

InvITs are instruments on the pattern of mutual funds and are designed to pool small sums of money from a number of investors to invest in assets that give cash flow over a period of time. 

(PTI)