Power Grid FPO to open for subscription on December 3

Power Grid Corporation of India, a listed company on BSE, NSE has come out with its further public offer (FPO) of 787,053,309 equity shares of Rs 10 each. Which is going to open for subscription during December 03-06, 2013.
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Nov 27, 2013, 08.54 AM | Source: Moneycontrol.com

Power Grid FPO to open for subscription on December 3

Power Grid Corporation of India, a listed company on BSE, NSE has come out with its further public offer (FPO) of 787,053,309 equity shares of Rs 10 each. Which is going to open for subscription during December 03-06, 2013.

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Power Grid FPO to open for subscription on December 3

Power Grid Corporation of India, a listed company on BSE, NSE has come out with its further public offer (FPO) of 787,053,309 equity shares of Rs 10 each. Which is going to open for subscription during December 03-06, 2013.

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Moneycontrol Bureau

State-run electric utilities company Power Grid Corporation of India  has come out with its follow-on public offer (FPO) of 78,70,53,309 equity shares of Rs 10 each. The issue is going to open for subscription on December 03.

The issue will close on December 05 for qualified institutional bidders while it will be opened for other investors till December 06.

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.

The company intends to use fresh issue funds for capital requirements for the implementation of certain identified transmission projects and general corporate purposes.

Also Read: Captain Polyplast SME IPO to open on Nov 26

Equity shares are proposed to be listed on the NSE and BSE.

SBI Capital Markets Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited and UBS Securities India Private Limited are the book running lead managers to the issue.

Karvy Computershare Private Limited is the registrar to the offer.

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