Wednesday, November 27, 2013

Power Grid Corporation of India FPO to open on Dec 3rd

Power Grid Corporation of India is entering in the capital markets with follow on public offer, FPO of 787,053,309 Equity Shares of Rs. 10 each. The price band for the issue has not been fixed yet. The offer comprises a fresh issue of 60,18,64,295 equity shares by the company and an offer for sale of 18,51,89,014 shares by government.

Power Grid Corporation of India Limited (PGCIL) is Indian government owned, public sector enterprise. PGCIL is in the business of transmission of electric power in India. It owns and operates a large network of transmission lines and infrastructure that constitutes most of India’s interstate and inter-regional electric power transmission system and carries electric power across India.

The issue opens on Dec 03, 2013, and closes for subscription on Dec 06, 2013. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Visit Power Grid Corporation of India FPO page for more detail.