India Grid Trust's Rs 2,250-cr IPO oversubscribed 1.17 times

The IPO of India Grid Trust to raise Rs 2,250 crore was oversubscribed 1.17 times till late afternoon trade on the last day of the offer on Friday.

The issue received bids for 14,73,38,919 shares against the total issue size of 12,62,78,838, data available with the NSE till 2:00 pm (1400 hours) showed.

The InvIT, sponsored by Sterlite Power Grid Ventures Ltd, on Tuesday raised over Rs 1,012 crore from anchor investors.

India Grid Trust, or IndiGrid, plans to raise Rs 2,250 crore through the initial share sale offer. It has a price band of Rs 98-100 per unit.

This is the second IPO by an InvIT after IRB InvIT Fund. The IPO of IRB InvIT Fund was oversubscribed 8.57 times earlier this month.

InvITs are debt instruments that are traded in the market and can act as investment vehicles for sponsors.

The listing of instruments enables promoters of infrastructure to monetise completed assets and raise funds for other long-term projects.

IndiGrid is an infrastructure investment trust established to own inter-state power transmission assets in India.

Morgan Stanley India, Citigroup Global Markets India and Edelweiss Financial Services are the lead managers to the issue.

The units of IndiGrid will be listed on the BSE and the NSE.

JUBILANT INDUSTRIES LTD. (JUBLINDS)

Jubilant Industries Ltd. is the flagship Company of Agri and Performance Polymers business of the Jubilant Bhartia group. It is leading producer of Agri and Performance Polymer products comprising consumer products like adhesives, wood finishes, application polymers like emulsion polymers, food polymers and latex such as vinyl pyridine, SBR, NBR latex, Crop Nutrition, Crop Growth, Crop Protection and IMFL. Company offers broad range of technology based products and solutions to customers in India as well as globally. Over the years, this business has attained a significant size in India and the Company aims at scaling up its business in global markets. Performance Polymers Performance polymers are having specific properties like temperature stability, chemical stability, mechanical properties and find wide range of application as given below. Food Polymers Jubilant Ind is number one in India and one of the three major global suppliers of So...

Stock on Radar -Gillanders

Gillanders - Buy at cmp 138 for the targets of 149 to 165 , time frame 1 to 2 months ,SL 119 Incorporated in 1935, Gillanders Arbuthnot and Company Ltd deals in manufacture and sale of tea, yarn made out of Cotton, Man Made Fibres, Steel Structural, Pipes and Equipment and designing, supplying, erection and commissioning of projects on turnkey basis and letting out of property on Rent 1) Gillanders among the top 3 players in 2W and a leader in 3W. 2) Recently company seen a turnaround by coming in profit vs loss They posted 5 cr profit vs loss of 35 crores 3) Promoters recently increased stake and holding nearly 70% of the company 4) Healthy sales growth of 36% ( yoy) *5) Valuations looks attractive Price to sales ratio 0.7x vs other peers 2.2X Price to book ratio 1x* 6) Debt reduced drastically, working capital cycle improved 7) No pledge of shares , modest dividend yield 8) Diversified operations in different sectors like - tea , textile, real estate, engineeri...

Add in Dips stocks for short term gains! NIIT tech , Hdfc bank and TCS ! Do not miss to add in all Dips !

Add in Dips stocks for short term Positional - NIIT tech , Hdfc bank and Tata consultancy services https://twitter.com/Kj_TechTrades/status/1176436471013625857?s=20

Hind Rectifiers Ltd. .. Bumper Results with Bumper Order Book.. Ready to Fly for 170++ soon

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Kajaria Ceremics .. Breakout for 700++CMP 589

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