India Grid Trust To List On Bourses On June 6

New Delhi: India Grid Trust, which recently concluded its Rs. 2,250 crore initial public offering, will make its stock market debut on June 6.

The IPO of India Grid Trust, second in the infrastructure investment trusts (InvIT) space, was subscribed 1.17 times.

The price band for the offer, open during May 17-19, was set at Rs. Rs. 98-100 per unit.
India Grid Trust, an infrastructure investment trust established to own inter-state power transmission assets in India, had raised over Rs. 1,012 crore from anchor investors.

The InvIT, sponsored by Sterlite Power Grid Ventures Ltd, will list on BSE and NSE on June 6. Prior to that, units of IRB InvIT Fund got listed on the stock exchanges in May.

Morgan Stanley India, Citigroup Global Markets India and Edelweiss Financial Services were the lead managers to the issue.

InvITs are debt instruments that are traded in the market and can act as investment vehicles for sponsors. The listing of instruments enables promoters of infrastructure to monetise completed assets and raise funds for other long-term projects.

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