IndiGrid NCD issue subscribed 10 times more

New Delhi Infrastructure investment trust IndiGrid's public issue of non-convertible debt securities has been subscribed nearly 10 fold within hours of opening on Wednesday.

IndiGrid's NCDs issue base size was of Rs 100 crore with a green shoe option of additional Rs 900 crore. Through the issue of non-convertible debt securities IndiGrid aims to raise up to Rs 1,000 crore. According to latest data of the subscription of the issue, bids were received for 96,50,352 (965.04 per cent) against the 10,00,000 NCDs of Rs 1,000 each on offer with a green shoe option of 90,00,000 NCDs. The issue opened on Wednesday and is scheduled to close on May 5. Earlier this month, the Insurance Regulatory and Development Authority (IRDA) had allowed insurance firms to invest in debt securities of infrastructure and real estate investment trusts.