Power Grid Corporation Of India Ltd.

The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of Follow on Public Offer (FPO) of Power Grid Corporation of India (PGCIL) of 78,70,53,309 equity shares of Rs 10 each constituting 17% of existing paid-up capital which comprises fresh issue of 60,18,64,295 equity shares (13% of existing paid-up capital) and offer for sale (disinvestment) of 18,51,89,014 equity shares (4% of existing paid-up capital) by the selling shareholder that is the President of India.

The additional resources generated through the issue of the FPO will be utilized by PGCIL in its investment programmes.

PGCIL, the Central Transmission Utility (CTU), is engaged in power transmission business with the mandate for planning, co-ordination, supervision and control over Inter-State transmission systems and operation of the National and Regional Power Grids. It is also in the telecom business and offers consultancy services.