Powergrid Corporation of India is launching InvIT (Infrastructure Investment Trust) IPO, the first-ever by a state-owned firm. The Rs. 7750 crores public offer comprises fresh issuance of units aggregating up to Rs. 5000 crores and offer for sale of units worth Rs. 2750 crores. For more information, you can refer to the IPO Prospectus filed by the company.
Powergrid InvIT (Infrastructure Investment Trust) is set up to own, construct, operate, maintain and invest as an infrastructure investment trust in power transmission assets in India.
The InvIT is sponsored by Powergrid Corporation of India, India’s largest power transmission company. The state-owned firm is engaged in project planning, designing, financing, constructing, operating, and maintaining power transmission projects across India and undertakes operations in the Indian telecom infrastructure sector.
The Initial Portfolio Assets comprise five power transmission projects located across five states of India:
|Financial Year Ended||Revenue (₹ Crores)||PAT (₹ Crores)|
|Nine months ended December 31, 2021||1,009.08||337.14|
|Issue Period||29th April 2021 - 3rd May 2021|
|Price Range||₹ 99 - 100|
|Minimum Bid Quantity||1100|
How do I apply for the Powergrid InvIT IPO?
The UPI IPO method for applying is not yet available for InvIT’s, you will have to apply using the Netbanking ASBA service provided by your bank.
You will need to enter the following details for your application:
Demat ID - This is a 16-digit number used to identify your demat account. It is unique for every client. You can find your demat ID under DP IDs on your Kite profile.
Depository - CDSL
DP Name - Zerodha
You can read this post explaining the process in detail.
The application amount will be blocked in your bank account and deducted only if you receive an allotment of the units which will be added to your demat account.