Power Grid Corporation Of India Ltd.

Power Grid Corporation of India is currently trading at Rs. 95.40, up by 0.30 points or 0.32% from its previous closing of Rs. 95.10 on the BSE.

The scrip opened at Rs. 94.50 and has touched a high and low of Rs. 95.40 and Rs. 93.70 respectively. So far 58,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 122.45 on 21-Nov-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. 101.60 and Rs. 94.10 respectively. The current market cap of the company is Rs. 44,144 crore.

The promoters holding in the company stood at 69.42% while Institutions and Non-Institutions held 23.69 % and 6.88% respectively.

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.