The issue is an InvIT set up to own, construct, operate, maintain and invest as an infrastructure investment trust, including in power transmission assets in India.
The issue includes a fresh issue of units up to Rs 4,993.48 crore. The selling unitholder is offering units worth up to Rs 2,741.50 crore.
Anchor investors will be bidding on April 28, 2021.
The units of PowerGrid InvIT are proposed to be listed on bourses BSE and NSE.
Net proceeds from the offer will be utilised towards the following objects providing loans to the initial portfolio assets for repayment or pre-payment of debt and for general purposes.
Not more than 75 per cent of the units offered will be reserved for institutional investors. The rest will be for non-institutional investors. Bids can be made for a minimum lot of 1,100 units and in multiples of 1,100 units thereafter by bidders other than the units subscribed for by anchor investors.
IDBI Trusteeship Services Limited is the trustee, while PowerGrid Corporation of India is the sponsor of the issue. PowerGrid Unchahar Transmission is the investment manager.
ICICI Securities, Axis Capital, Edelweiss Financial Services and HSBC Securities and Capital Markets (India) are the lead managers to the offer.