PowerGrid Infrastructure Investment Trust which had tapped the capital markets with its fresh issue and offer for sale of Rs 7,735 crs completed was subscribed 4.83 times. Earlier the company had made allocation to anchor investors. The company allotted 34,80,74,100 units to 33 investors comprising of 47 entities. The top allocation was done to CPP Investment Board of 8 cr units or 22.98% of the anchor size. Three investors were allocated an identical 4 cr units or 11.49% of the allocation. They included Capital Income Builder and two Indian mutual funds, SBI and HDFC. This means that the top four investors were allocated 57.45% of the anchor allocation.

There were just two buckets. In the QIB category the issue was subscribed 4.63 times while the Non-institution category it was subscribed 5.07 times. The overall issue was subscribed 4.83 times. There were over 46,200 forms. The average application size was about 21.20 lacs. The issue including anchor portion received bids for over 24,000 crs against the issue size of 7,735 crs.

The issue consists of units in a price band of Rs 99-100. The fresh issue is for Rs 4993.48 crs while the offer for sale is for Rs 2741.51 crs. The issue was open from Thursday the 29th of April and closed on Monday the 3rd of May. The issue was 75% reserved for QIB’s and the balance 25% for non-institutional investors. The lot size is 1100 units or Rs 1.10 lacs at the top end of the price band.

Full details of the subscription are given below: –