Power Grid Corporation Of India Ltd.

BSE: 532898 | NSE: POWERGRID
Large Cap | Power Generation/Distribution
264.20
3.90 (1.50%)
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Power Grid Corporation’s FPO to commence on December 3

Date: 30-11-2013

State-owned, Power Grid Corporation of India (PGCIL) is coming up with a Follow-on Public Offer (FPO) which includes 13% of fresh issue of shares and 4% disinvestment of shares by Government of India (GOI). The issue will open on December 03, 2013 and closes on December 05, 2013 for Institutional Investors and December 06, 2013 for Retail category of Investors & Employees.

Besides, 50% of the net issue is allocated to Qualified Institutional Buyers (QIBs), 35% for Retail category and 15% for High Network Investors (HNI). Above 0.38% of the issue is reserved for employees.

Retail category and employees shall be given a discount of 5% on the issue price. With the above, the GOI holding in the company will come down to 57.89% from the present level of 69.42%.