Sterlite Power Grid Ventures, through the IPO of its InvIT -- India Grid Trust IndiGrid -- is expected to give 10.9 percent to its investors, according to market estimates
The IPO, which will be second in this segment, will open on May 17 and close on May 19.
It commands a price band of Rs 98-100 per unit, according to a public notice. The bids can be made for a minimum of 10,205 units and in multiples of 5,103 units thereafter, it added.
The initial share sale size of its infrastructure investment trust (InvIT) will be Rs 2,250 crore.
IndiGrid is an infrastructure investment trust established to own inter-state power transmission assets in India.
Sterlite Power Grid Ventures and Sterlite Investment Managers are sponsor and investment manager, respectively, of IndiGrid.
InvITs is a novel product for the Indian equity investors – a hybrid instrument which is neither pure equity nor pure debt. While it will be listed on the equity exchanges it isn’t pure equity (the scope for capital appreciation is negligible). InvITs cannot be called debt instrument because there is no assurance of payment of interest and principal.
According to SEBI guidelines on the issuance of InvITs, the Trust needs to distribute at least 90 percent of this distributable cash to the unit holders in the form of dividend, which will be tax free. The Trust anyways is exempted from dividend distribution tax.
Does anyone have any info on how allotment will be done in this one.. will it be like normal ipo lottery or they can allot min 5000 unit to applicants also, since sebi allows this as min trading value.
i guess all this will clear by start of nxt wk when allotment will be done.
Neverthless i do hope min is 5lac so that i can apply in indigrid invit.. since since that is also expected to over subscrbe and looks promising as well. added advtg it will also diversify my investments to two sector road and power instead of one road having all.
whats wrong y do u think it will list in discount or we should pray not getting allotment ..i dont see any reason for it to happen plz give proper details for such a statment so others can get info also..
Ok. I prey you dont get any allotment !!!! ''& I also prey you dont get disheartened and jealous looking at everybody around you earning from this issue!