MUMBAI (Reuters) - India Grid Trust's initial public offering of up to 22.5 billion rupees ($348 million) will be open from May 17-19, according to a regulatory filing, in what would be the country's second listing by a infrastructure investment trust.
India Grid Trust has set a price range of 98 rupees to 100 rupees per share for the IPO, IFR, a Thomson Reuters publication, separately reported on Tuesday.
InvITs, or Infrastructure Investment Trusts, are entities that control revenue-generating infrastructure assets and offer regular returns to investors.
India Grid Trust, sponsored by power transmission company Sterlite Power Grid Ventures, owns two revenue-generating transmission assets in central India, according to its filing.
Morgan Stanley, Citigroup and Edelweiss are managing the IPO.
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IRB InvIT Fund became the first IPO by an infrastructure investment trust in India after raising 50.33 billion rupees last week.
($1 = 64.6650 Indian rupees)
(Reporting by Promit Mukherjee and Devidutta Tripathy; Editing by Sunil Nair)
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