Power Grid Corporation Of India Ltd.

Power Grid Corporation of India’s has received an approval from board of directors to fix the issue price for Follow on Public Offer (FPO) at Rs 90 per share. A discount of Rs 4.50 per share has been allowed to Retail Investors and eligible Employees on the issue price.

The company’s FPO issue had been subscribed around 6.72 times. The Rs 7,000-crore issue, which closed on December 6 had received bids for 529 crore equity shares as against issue size of 78.7 crore shares.

Power Grid Corporation of India, 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.