India’s principal power transmission company, Power Grid Corporation of India will list on the bourses with public issue shares on Friday, October 5, 2007.
The company has been fixed the issue price at Rs 52 (the upper end of the price band of Rs 44-52) for its initial public offering (IPO) of 573,932,895 equity shares of Rs 10 each for cash at a price that was decided through a 100% book building process.
Its BSE ID is 532898 and NSE ID - POWERGRID. The share also will start trading in F&O segment with lot size of 3850 shares.
The issue was subscribed 64.82 times. The qualified institutional bidders (QIBs) portion was subscribed around 115.90 times; the non-institutional investors portion was subscribed around 40.34 times while the retail investors portion was subscribed around 6.77 times and employees was subscribed 2.66 times.
After the Issue, the Government of India, through the Ministry of Power will continue to hold 86.36% of the diluted post-issue paid-up equity capital of the company.
The book running lead managers to the issue are: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Enam Securities Private Limited.
Power Grid Corporation of India owns and operates most of India’s interstate and inter-regional electric power transmission system.
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