PowerGrid Infrastructure Investment Trust has announced public offering of 773499200 shares at a price of Rs 100.00 each for Cash at a Premium of Rs 0.00 per share. The gross proceeds of the issue are expected to be Rs 7,73,499.20 lakhs.

The company's initial public offer (IPO) will open on 29 April 2021 and is expected to close on 03 May 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 99.00-100.00 per share.

The IPO includes a fresh Issue of 773499200 Equity Shares of the Company at an price of Rs 100.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1100 shares with bids in multiples of 1100.

PowerGrid Infrastructure Investment Trust anticipates using the proceeds of the issue for Providing loans to the Initial Portfolio Assets for repayment or prepayment of debt, including any accrued interest,availed by the Initial Portfolio Assets General purposes.

HSBC SECURITIES AND CAPITAL MARKETS (I) PVT LTD,Axis Capital Ltd.,Edelweiss Financial Services Ltd.,ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.