Book Running Lead Manager to the largest InvIT/REIT public issuance in India

Deal Highlights: PowerGrid InvIT IPO

  • 1st InvIT IPO by a Public Sector entity and 3rd InvIT IPO in India
  • Strong yield play with fully contracted long term cash flows and minimal counter party risk
  • Healthy subscription garnering interest from across investor pools
    • QIB* – ~4.8x; NII – ~4.6x; Overall* – ~4.7x; 42,000+ applications

Our Contribution: Distribution Powerhouse

  • 4th InvIT transaction for us
    • #1 procurer across these transactions
    • Maximum public InvIT transactions closed
  • Highest procurer in the anchor segment as well as overall QIB book^
  • Garnered early bids from key anchors
  • Procured 3 out of top 6 investors in a four-bank syndicate
  • Canvassed high quality orders across investor segments – Global & Domestic pension funds, Marquee FPIs, Insurance Companies, Mutual Funds & family offices
  • Provided guidance on various deal contours and timing