PowerGrid Infrastructure Investment lists at a premium of 4% against issue price of ₹100

Shares of PowerGrid Infrastructure Investment Trust listed with a premium of 4 per cent on Friday against its issue price of ₹100. The stock made its debut at ₹104, registering a gain of 4 per cent on the BSE. It further jumped 4.97 per cent to ₹104.97 as the trade progressed.

At the NSE, it listed at ₹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 at ₹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.


SEE ALSO:
After ditching Bitcoin, Elon Musk is now working on making Dogecoin efficient
Four reasons why cryptocurrency Ethereum has been on a bull run
Even small initiatives during a pandemic can help save a thousand lives, these people are doing their bit