India Grid subscribed 1.35 times on Day 3

The issue received bids for 7.84 crore shares from institutional investors of their quota of 6.88 crore shares.

By: ENS Economic Bureau | Mumbai | Published: May 20, 2017 3:45 am

The initial public offering (IPO) of India Grid Trust, an infrastructure investment trust (InvIT), sponsored by Sterlite Power Grid Ventures Ltd was on Friday, the concluding day of its offer, subscribed 1.35 times with investors bidding for 17.01 crore shares of 12.62 crore shares on offer.

The issue received bids for 7.84 crore shares from institutional investors of their quota of 6.88 crore shares. Non- institutional investors bid for 9.17 crore shares of their quota of 5.73 crore shares offered to them, bidding 1.6 times. India Grid Trust on Tuesday raised Rs 1012.43 crore from 19 anchor investors.

The investors who acquired shares through anchor allotment include Deutsche Global, Kotak Mahindra, DSP Blackrock, Reliance Nippon, Reliance General Insurance and Edelweiss Tokio.

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