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PowerGrid InvIT lists with 4% premium to IPO

The stock made its debut at Rs 104, registering a gain of 4 per cent on the BSE.

SNS | New Delhi |

PowerGrid Infrastructure Investment Trust listed its shares with a premium of 4 per cent on Friday against its issue price of Rs 100.

It jumped 4.97 per cent to Rs 104.97 as the trade progressed.

The stock made its debut at Rs 104, registering a gain of 4 per cent on the BSE.

At the NSE, it listed at Rs 104, with a premium of 4 per cent.

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

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

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