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CPPIB, Capital Group among top anchor investors in PowerGrid InvIT

In the anchor book, CPPIB has been allocated 7.99 crore units worth Rs799.99 crore, Capital Group allotted 4 crore units worth Rs400 crore and SBI Mutual fund and HDFC Mutual Fund, including its various schemes, got approximately 4 crore units worth Rs400 crore each.Premium
In the anchor book, CPPIB has been allocated 7.99 crore units worth Rs799.99 crore, Capital Group allotted 4 crore units worth Rs400 crore and SBI Mutual fund and HDFC Mutual Fund, including its various schemes, got approximately 4 crore units worth Rs400 crore each.

  • PowerGrid InvIT has raised nearly Rs3,480 crore from anchor investors ahead of its public issue, which opened on Thursday

MUMBAI : Canada’s largest pension fund Canada Pension Plan Investment Board (CPPIB), US-based Capital Group and domestic institutional investors SBI Mutual Fund and HDFC Mutual Fund are the top anchor investors in PowerGrid Infrastructure Investment Trust (InvIT) public issue.

PowerGrid InvIT has raised nearly Rs3,480 crore from anchor investors ahead of its public issue, which opened on Thursday. It has decided to allot 348.07 million shares at Rs100 a share to 47 institutional investors.

The other anchor investors involved are Tata MF, Fidelity Funds, Tata AIA Life Insurance Company, Tata AIG General Insurance Company, SBI Life Insurance Company, UTI MF, ICICI Prudential MF, Sundaram MF, and Rainbow Investments Ltd.

In the anchor book, CPPIB has been allocated 7.99 crore units worth Rs799.99 crore, Capital Group allotted 4 crore units worth Rs400 crore and SBI Mutual fund and HDFC Mutual Fund, including its various schemes, got approximately 4 crore units worth Rs400 crore each.

The remainder of the units have been subscribed by several local and international institutional investors.

The firm plans to raise nearly Rs7,735 crore via public issue by issuing fresh shares worth Rs4,993.48 crore and an offer for sale of Rs2,741.50 crore by its current promoters and shareholders. It has fixed a price band of Rs99-100 per unit and the issue will close on 3 May.

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