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IndiGrid InvIT Fund is a book built issue of Rs 2,250.00 crores.
IndiGrid InvIT Fund bidding started from May 17, 2017 and ended on May 19, 2017. The shares got listed on BSE, NSE on June 6, 2017.
IndiGrid InvIT Fund price band is set at ₹98 to ₹100 per share. The minimum lot size for an application is 10205 Shares. The minimum amount of investment required by retail investors is ₹1,020,500.
Citigroup Global Markets India Private Limited, Edelweiss Financial Services Ltd and Morgan Stanley India Company Pvt Ltd are the book running lead managers of the IndiGrid InvIT Fund, while Kfin Technologies Limited is the registrar for the issue.
Refer to IndiGrid InvIT Fund DRHP for detailed information.
| IPO Date | May 17, 2017 to May 19, 2017 |
| Listing Date | June 6, 2017 |
| Face Value | ₹100 per share |
| Price Band | ₹98 to ₹100 per share |
| Lot Size | 10205 Shares |
| Total Issue Size | 225,000,000 shares (aggregating up to ₹2,250.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 583,483,081 |
| Share holding post issue | 808,483,081 |
IndiGrid InvIT Fund offers 126,278,838 shares. 68,880,294 (54.55%) to QIB.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 68,880,294 (54.55%) | NA | Other Shares Offered | 57,398,544 (45.45%) | NA |
| Total Shares Offered | 126,278,838 (100%) |
Investors can bid for a minimum of 10205 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 10205 | ₹1,020,500 |
| Retail (Max) | 0 | 0 | |
| (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) | |||
| Lot Size Calculator | |||
Incorporated in 2016, IndiGrid InvIT Fund is an infrastructure investment trust (“InvIT”) established to own inter-state power transmission assets in India. They are focused on providing stable and sustainable distributions to their Unitholders.
Sterlite Power Grid Ventures Ltd, sponsor of IndiGrid InvIT Fund is one of the leading independent power transmission companies operating in the private sector, with extensive experience in bidding, designing, financing, constructing and maintaining power transmission projects across India.
Company's sponsor owns 11 inter-state power transmission projects with a total network of 30 power transmission lines of approximately 7,733 ckms and nine substations having 13,890 MVA of transformation capacity. Some of these projects have been fully commissioned, while others are at different stages of development. They recently won bids for two transmission projects in Brazil,
Of the 11 inter-state power transmission projects owned by the Sponsor, they will initially acquire two projects with a total network of eight power transmission lines of 1,936 ckms and two substations having 6,000 MVA of transformation capacity across four states (the “Initial Portfolio Assets”).
The object of the issue are to:
1. providing loan to BDTCL and JTCL for repayment or pre-payment of debt (including any accrued interest and any applicable penalties) of banks, financial institutions, SGL1, SGL2;
2. repayment of any other long term and short term liabilities and capital expenditure creditors.
[Dilip Davda] As power transmission segment is considered as the safe investment asset globally, these units will provide handsome rewards in medium to long term. Investors may consider investment in IndiGrid InvIT that has good ratings for corporate credit ratings. Read detail review...
The IndiGrid InvIT Fund is subscribed 1.35 times on May 19, 2017 5:00:00 PM. The public issue subscribed times in the retail category, 1.14 times in the QIB category, and times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.14 |
| Others | 1.60 |
| Total | 1.35 |
An InvIT is a new capital market product promoted by the Government to enable Infrastructure Developers to free up tied-up capital. InvITs are designed to attract low cost long term capital from FIIs, Insurance and Pension Funds and the DIIs (mutual funds, Banks) which will also benefit to other investors including HNI clients.
IndiGrid has been given the corporate credit rating of 'AAA'/Stable by Crisil, 'IrAAA”/Stable by ICRA and IND'AAA'/Stable by India Ratings.
Particulars | IRB InvITs | IndiGrid InvIT |
Price band | Rs. 100-102 | Rs. 98-100 |
Issur Size | Rs. 5921 cr. | Rs. 2250 cr. |
Sector | Toll Road constructions | Power Transmission |
Likely yield | 8 to 12% | 10 to 15% |
Entry Level | At a Premium | At par value |
Tenure | 16 years | 35 years |
Corporate Ratings | AAA/Stable | AAA/Stable |
Proportionate Allotment | 75% of the issue (i.e. except retail) | 75% of the issue (i.e. except retail) |
Risk Factors | Inflation, Traffic Volume, Govt. policies | Load Availability, Market trends |
Market perception | Bearing Risk as above | Considered as Safe asset class Globally |
Promoter | IRB Group | Sterlie Group |
| Listing Date | June 6, 2017 |
| BSE Script Code | 540565 |
| NSE Symbol | INDIGRID |
| ISIN | INE219X23014 |
| Final Issue Price | ₹100 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹100.00 |
| ₹100.00 |
| ₹94.00 |
| ₹100.00 |
| ₹98.45 |
| NSE |
|---|
| ₹100.00 |
| ₹99.70 |
| ₹93.70 |
| ₹99.70 |
| ₹98.64 |
IndiGrid InvIT Fund
F-1, The Mira Corporate Suites,
1 & 2, Ishwar Nagar,
Mathura Road, New Delhi 110 065
Phone: +91 11 4996 2200
Email: complianceofficer@indigrid.co.in
Website: http://www.indigrid.co.in
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: indigrid.invit@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
IndiGrid InvIT Fund is a main-board IPO of 225,000,000 equity shares of the face value of ₹100 aggregating up to ₹2,250.00 Crores. The issue is priced at ₹98 to ₹100 per share. The minimum order quantity is 10205 Shares.
The IPO opens on May 17, 2017, and closes on May 19, 2017.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The IndiGrid InvIT Fund opens on May 17, 2017 and closes on May 19, 2017.
IndiGrid InvIT Fund lot size is 10205 Shares, and the minimum amount required is ₹1,020,500.
You can apply in IndiGrid InvIT Fund online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for IndiGrid InvIT Fund will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the IndiGrid InvIT Fund allotment status.
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