Thursday, May 13, 2021

Powergrid InvIT IPO Details

Powergrid InvIT IPOPowergrid InvIT IPO description – Powergrid InvIT was set-up to own, construct, operate, maintain and invest in power transmission assets in India. Its sponsor and project manager, Power Grid Corporation of India Limited is a Maharatna CPSE.  As of 1 November 2020, Power Grid was the largest power transmission company in India in terms of length of transmission lines measured in circuit kilometres (ckm). As of 31 August 2020, the sponsor’s share in India’s cumulative inter-regional power transfer capacity was more than 85%.

Of the sponsor TBCB (tariff based competitive bidding) projects, Powergrid InvIT proposes to acquire five projects initially with a total network of 11 power transmission lines of approximately 3,698.59 ckm and three substations having 6,630 MVA of aggregate transformation capacity, as of 31 December 2020, across five states in India.

Powergrid InvIT intends to distribute at least 90% of the net cash available for distribution to its unitholders once at least every quarter in every financial year. However, the first declaration of distribution by the Trust shall be made within six months from the listing and trading of units pursuant to the offer.

Sponsor of Powergrid InvIT – Power Grid Corporation of India Limited Investment Manager of Powergrid InvIT – Powergrid Unchahar Transmission Limited 
Powergrid InvIT IPO details
Subscription Dates 29 April – 3 May 2021
Price Band INR99 – 100 per unit
Fresh issue INR4,993.48 crore
Offer For Sale INR2,741.51 crore
Total IPO size INR7,734.99 crore
Minimum bid (lot size) 1,100 units
Minimum investment INR1,08,900 – 1,10,000  
Non-Institutional Investor Allocation 25%
Listing On NSE, BSE

Powergrid InvIT Performance (in INR crore)

FY2018 FY2019 FY2020 9M FY2021
Revenue 345.6 984.1 1,334.1 1,009.1
Expenses 217.1 636.1 846.7 461.4
Comprehensive income 114.1 248.1 378.8 337.1
Margin (%) 33.0 25.2 28.4 33.4

Registrar of Powergrid InvIT IPO

KFin Technologies Private Limited
Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551
Email: [email protected]
Website: www.kfintech.com

Powergrid InvIT Contact Details

Powergrid Infrastructure Investment Trust
Plot No. 2,
Sector 29,
Gurgaon 122 001
Phone: +91 124 282 3177
Email: [email protected]
Website: www.pginvit.in

Powergrid InvIT IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 23,20,49,400 0.03 0.38 4.63
NII 19,33,75,600 0.19 0.88 5.06
         
         
Total 42,54,25,000 0.10 0.60 4.83

Powergrid InvIT IPO Reviews

Angel Broking – Neutral
BP Wealth – Subscribe
Choice Broking – Subscribe for Long Term
Elara Capital – Subscribe
GEPL Capital – Subscribe
Ventura Securities – Not Rated

Powergrid InvIT IPO Allotment Status

Powergrid InvIT IPO allotment status is now available on KFin Technologies’ website. Click on this link to get allotment status.

Listing Performance of Powergrid InvIT

IPO Opening Date: 29 April 2021
IPO Closing Date: 3 May 2021
Finalisation of Basis of Allotment: 10 May 2021
Initiation of refunds: 11 May 2021
Transfer of shares to demat accounts: 11 May 2021
Listing Date: 17 May 2021
Opening Price on NSE: Coming soon
Closing Price on NSE: Coming soon

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