PowerGrid InvIT seals $1bn Indian IPO

By Jonathan Breen
04 May 2021

PowerGrid Infrastructure Investment Trust has wrapped up its Rp77.3bn ($1.05bn) IPO, giving a boost to the still nascent asset class in India.

As trading ended in Mumbai on Monday, a three-day bookbuild closed for the country’s third InvIT listing and the first since 2017.

For the deal, PowerGrid InvIT issued Rp49.9bn of primary units while its state-owned sponsor, Power Grid Corp of India, sold Rp27.4bn in secondary stock. The units ...

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