PowerGrid InvIT; third-biggest IPO of the Year 2021
PGInvIT was the first infrastructure investment trust who debuted from the government company to raise funds from IPO.
New Delhi: PowerGrid Infrastructure Investment Trust (“PGInvIT”/ “Trust”) sponsored by PowerGrid Corporation Limited is one of the biggest public issues in 2021.
The Initial Public Offer of PGInvIT opened on April 29, 2021, and closed on May 3, 2021. The Initial Public Offer comprised of a Fresh Issue of Rs.4,993.483 crore and an Offer for Sale of Rs.2,741.508 crore at the upper end (i.e. Rs.100 per Unit) of the Price Band of Rs.99-Rs.100, by the Selling Unitholder i.e. POWERGRID aggregating to the Total Offer Size of Rs.7,734.991 crore.
PGInvIT was the first infrastructure investment trust who debuted from the government company to raise funds from IPO. The Trust was registered with the Securities and Exchange Board of India (“SEBI”) on January 7, 2021.
PowerGrid InvIT is a good alternative for investors.
However, the no 1 public issue in size, One 97 communication, Paytm secured the position as the company raised Rs 18,300 crore in Nov 2021 through its public issue at a price of Rs 2,150 per share, following this Zomato at second position and PGInvIT at Third position.
Total 65 companies launched their IPOs in 2021 which is quite higher than the previous record. further, it is also said that in 2022 the market will become stronger than this.
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