PowerGrid Infrastructure Investment Trust (InvIT) is most likely to announce the IPO share allotment next week on May 10, 2021. According to the PowerGrid Infrastructure Investment Trust’s (InvIT) prospectus, the initiation of refunds or unblocking of funds from ASBA accounts will take spot on May 11, 2021. PowerGrid Infrastructure Investment Trust (InvIT) will make its stock industry debut on May 17, 2021. The situation was subscribed 4.83 occasions on the last day of the subscription. The Rs 7,735-crore situation received bids for 205 crore units against 42 crore units on provide. The portion reserved for the institutional investors was subscribed 4.63 occasions and other investors 5.07 occasions.
The situation comprised a fresh situation of shares worth Rs 4,993.48 crore and an provide for sale (OFS) to the tune of Rs 2,741.50 crore by promoting shareholders. It was sold in the value band of Rs 99-one hundred per unit. This is the initially Infrastructure Investment Trust (InvIT) in the nation to be floated by a public sector enterprise. The units of the Trust are proposed to be listed on BSE and NSE. The Powergrid infrastructure Investment Trust is newly set up and as such it does not have any established operating history which tends to make it challenging to analyse the future development prospects, mentioned an analyst. “However, the sponsor has a ‘Maharatna’ status from GoI. Also, PGIT has stable credit ratings from leading agencies. The instrument being suitable for long term investors we may not see considerable gains/losses on listing,” Abhay Doshi, Founder, UnlistedArena.com, dealing in Pre-IPO & Unlisted Shares, told TheSpuzz Online.
Even even though Powergrid InvIT IPO has met with a powerful response due to Government backing and its predictable money flow model, it remains a quick-term purchase only, mentioned AR Ramachandran, Co-founder & Trainer, Tips2Trades. “On listing day, subscribed investors should book 75 per cent of profits and reallocate in better sectors like IT and consumer for potentially higher returns,” Ramachandran told TheSpuzz Online
How to verify PowerGrid InvIT share allotment status through KFin Tech Private Ltd internet site
Investors can verify the allotment status on KFin Technologies internet site below the IPO Status section (https://ris.kfintech.com/ipostatus/) when it gets declared. After that, pick the IPO and enter either your application quantity or DPID/Client ID or PAN. In the case of the application quantity box, pick application kind and enter the application quantity. If the DPID/Client ID box is selected, pick the depository from the drop-down menu, enter DPIP, Client ID. If the PAN solution box was selected, enter the permanent account quantity. In the last step, enter the offered captcha and click submit. If the supplied information and facts by an investor is right, then the units applied for and units allocated will be displayed on the screen.
(The suggestions in this story are by the respective investigation and brokerage firm. TheSpuzz Online does not bear any duty for their investment tips. Please seek advice from your investment advisor prior to investing.)