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