Power Grid Corporation Of India is currently trading at Rs. 93.80, up by 0.40 points or 0.43 % from its previous closing of Rs. 93.40 on the BSE.
The scrip opened at Rs. 93.60 and has touched a high and low of Rs. 94.00 and Rs. 93.25 respectively. So far 477318 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 121.05 on 05-Dec-2012 and a 52 week low of Rs. 86.70 on 02-Aug-2013.
Last one week high and low of the scrip stood at Rs. 95.40 and Rs. 91.70 respectively. The current market cap of the company is Rs. 43357.38 crore.
The promoters holding in the company stood at 69.42 % while Institutions and Non-Institutions held 23.69 % and 6.88 % respectively.
An empowered group of Ministers (eGoM) headed by Finance Minister P Chidambaram has decided a floor price of Rs 85-90 a share for 17% follow on public issue (FPO) of PowerGrid Corporation of India, way lower than its Current Market Price (CMP) of Rs 93.45.
The issue, which opens on December 3 and closes on December 5 for institutional investors and December 6 for retail category of investors and employee, is expected to fetch the company a sum of close to Rs 5,717 crore and the government close to Rs 1,758 crore. Post the stake sale, the Government’s holding in PowerGrid will come down to 57.89% from the current 69.42%.
Meanwhile, five merchant bankers -- SBI Capital Markets, Kotak Securities, Citigroup, ICICI Securities and UBS -- are advising PowerGrid on its FPO for 17% stake sale, comprising 4% stake dilution by Government and 13 per cent fresh equity by the company.
Further, the retail category and employees shall be given a discount of 5% on the issue price. A discount of Rs 4.50 (which is 5% of the top end of the price band) will be available to retail investors and eligible employees on the issue price on allotment.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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