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IndiGrid InvIT Fund IPO (IndiGrid InvIT Fund) Detail

May 17, 2017 - May 19, 2017

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”).

Objects of the Issue:

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.

Issue Detail:

  »»  Issue Open: May 17, 2017 - May 19, 2017
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 225,000,000 Equity Shares of Rs 100 aggregating up to Rs 2,250.00 Cr
  »»  Face Value: Rs 100 Per Equity Share
  »»  Issue Price: Rs 98 - Rs 100 Per Equity Share
  »»  Market Lot: 10205 Shares
  »»  Minimum Order Quantity: 10205 Shares
  »»  Listing At: BSE, NSE

What are InvITs?

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.

Ratings

IndiGrid has been given the corporate credit rating of "AAA"/Stable by Crisil, "IrAAA”/Stable by ICRA and IND"AAA"/Stable by India Ratings.

Comparision of InvITs

Comparision of InvITs (IRB InvITs & IndiGrid InvIT)

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

IndiGrid InvIT Fund Reviews:

  1. IndiGrid InvIT Fund IPO review by Dilip Davda

IndiGrid InvIT Fund Recommendations:

Angel Broking - Subscribe
ICICI Securities - Subscribe
Kotak Securities - Subscribe

Issue Subscription Detail / Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & TimeQIBOthersTotal
Shares Offered / Reserved68,880,29457,398,544126,278,838
Day 1 - May 17, 2017 17:00 IST0.03000.11000.0700
Day 2 - May 18, 2017 17:00 IST0.07990.26500.1613
Day 3 - May 19, 2017 17:00 IST1.14001.60001.3500

IndiGrid InvIT Fund Prospectus

IndiGrid InvIT Fund Rating

224
3.7
Rating:Rated 3.7 stars

Vote Here ...

IndiGrid InvIT Fund Listing Date

  •   ›  Listing Date: Tuesday, June 6, 2017
  •   ›  BSE Script Code: 540565
  •   ›  NSE Symbol: INDIGRID
  •   ›  Listing In: IF Group of Securities
  •   ›  ISIN: INE219X23014
  •   ›  Issue Price: Rs 100 Per Equity Share
  •   ›  Face Value: Rs 100 Per Equity Share

Listing Day Trading Information

.
Issue Price:
Open:
Low:
High:
Last Trade:
Volume:
BSE
Rs 100.00
Rs 100.00
Rs 94.00
Rs 100.00
Rs 98.45
5,026,455
NSE
Rs 100.00
Rs 99.70
Rs 93.70
Rs 99.70
Rs 98.64
22,677,732

IndiGrid InvIT Fund News Alerts

No alert found.

Company Contact Information

IndiGrid InvIT Fund
F-1, The Mira Corporate Suites,
1 & 2, Ishwar Nagar,
Mathura Road, New Delhi 110 065
Phone: +91 11 4996 2200
Fax: +91 11 4996 2288
Email: complianceofficer@indigrid.co.in
Website: http://www.indigrid.co.in

IndiGrid InvIT Fund Registrar

Karvy Computershare Private Limited   »  Report
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: indigrid.invit@karvy.com
Website: http://karisma.karvy.com

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IndiGrid InvIT Fund Review / Comments

avatar
125. VINAYERH  Jul 21, 2017 9:36:25 AM IST I Like It. | Report Abuse
I allotted 01 lot out of 03 application
avatar
124. Deeep  Jul 18, 2017 11:57:28 AM IST I Like It. | Report Abuse
IPO dates - 19 july to 21 july approx
IPO size - 1400 - 1500 crores approx
Price band - Rs. 152 - 155 per share
Lot - 95 shares
Total amount - Rs. 14,725
avatar
123. ShareTrader  Jul 13, 2017 6:35:37 PM IST I Like It. | Report Abuse
Experts, what is your opinion about buying more of ERIS at this stage ?
What are your short term targets?
avatar
122. gundu anna  Jul 5, 2017 7:01:44 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts)
very bad for those who invested initially, many thought it is risk free but got trapped badly. high risk takers can buy now onwards
avatar
121. bhart  Jun 19, 2017 7:12:36 PM IST I Like It. | Report Abuse
Hello All,

What is the GMP for CDSL? I want to sell 2 Applications in Ahmedabad.
avatar
121.1. Pokemongo  Jun 22, 2017 5:26:49 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
98
avatar
120. sauravk  Jun 19, 2017 12:41:23 PM IST I Like It. | Report Abuse
Is there any issue in applying for CDSL ipo via a CDSL demat account?
avatar
119. Dr Nilay shah  Jun 9, 2017 3:48:50 PM IST I Like It. | Report Abuse
Is it possible to buy this script in small amount??
avatar
119.1. BullOverBear  Jun 16, 2017 12:35:12 AM IST I Like It. | Report Abuse
No, the lot size 10000+ was for IPO and its half 5000+ is for normal trading.
avatar
118. pamsa  Jun 9, 2017 7:26:32 AM IST I Like It. | Report Abuse
Bought 1 lac shares at 98 for one month target of 102
avatar
118.1. gundu anna  Jun 14, 2017 9:53:35 AM IST I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts)
Is it virtual? Have you really calculated the cost for 1 lakh shares.?
avatar
117. Dubai ipo  Jun 7, 2017 10:56:16 AM IST I Like It. | Report Abuse
tex free
avatar
116. bunty aggarwal  Jun 7, 2017 9:16:51 AM IST I Like It. | Report Abuse
Income is not Tax free it will be clubbed into your yearly income and taxed accordingly to the slab under which you fall.
avatar
115. Ranga  Jun 7, 2017 8:34:28 AM IST I Like It. | Report Abuse
Distributed income by the fund is taxable? Please clarify.
avatar
115.1. Ranga  Jun 7, 2017 8:52:15 AM IST I Like It. | Report Abuse
I understand it is tax free.. they declare dividend on half yearly basis.
avatar
114. Dubai ipo  Jun 6, 2017 11:14:50 AM IST I Like It. | Report Abuse
97.50.. price... wait
avatar
113. Pranay  Jun 6, 2017 10:02:40 AM IST I Like It. | Report Abuse
Exit at 100 or wait 98 very possible today further downside is expected
avatar
112. Pranay  Jun 6, 2017 8:49:55 AM IST I Like It. | Report Abuse
Last night towers of JTCL has fallen don''t not who are giving premium of 6 and seven
avatar
111. Dubai ipo  Jun 6, 2017 8:31:09 AM IST I Like It. | Report Abuse
enjoy friends... indiGrid will open with premium...
avatar
110. Savani prit  Jun 5, 2017 8:47:28 PM IST I Like It. 1 | Report Abuse
If you all are remember when the primiuem is start at 6to 8
avatar
109. Savani prit  Jun 5, 2017 8:43:17 PM IST I Like It. 1 | Report Abuse
Indigrid has listing tomorrow and gmp is sharply increasing from 2-3 and now it reach 4-5 because market is close at lifetime high so enjoy the listing grains and at the end of the day they close at 108 😃😃😃😃😉
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108. kirti sharma  Jun 5, 2017 9:18:04 AM IST I Like It. | Report Abuse
conferm listing date 06/06/2017
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108.2. Shiva Shourya  Jun 5, 2017 6:08:37 PM IST I Like It. | Report Abuse
Thanks a lot Aris
avatar
107. Shiva Shourya  Jun 3, 2017 12:53:29 PM IST I Like It. | Report Abuse
Pl share confirm listing date as no where it''s visible I tried lot
avatar
106. Dubai ipo  Jun 2, 2017 9:23:36 PM IST I Like It. 4 | Report Abuse
INDIGRID OPEN WITH PREMIUM .... PRICE 103-104 RS OPEN
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