PowerGrid InvIT ends with 3 pc premium against Rs 100 issue price

Topics PowerGrid

PowerGrid Infrastructure Investment Trust closed the trade with a premium of 3 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 during the day. It closed at Rs 103, higher by 3 per cent.

On the NSE, it listed at Rs 104, with a premium of 4 per cent, and later closed with a gain of 3.05 per cent at Rs 103.05.

In traded volume terms, 23.98 lakh shares were traded at the BSE and over 4.44 crore units at the NSE during the day.

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

The price range for the offer was Rs 99-100 per unit.

PowerGrid Infrastructure Investment Trust (PowerGrid InvIT) is owned by the 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.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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