Power Grid's Rs 7000-cr FPO fully subscribed

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26 Aug, 2025 12:21

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Moneycontrol Bureau

State-run electric utilities company Power Grid Corporation of India's Rs 7,000-crore follow-on public offer (FPO) has been subscribed 1.06 times on the second day, helped by qualified institutional buyers (QIBs).

The issue, which will close on December 06, has received bids for 83.3 crore equity shares as against issue size of 78.7 crore shares. The issue closing date for QIBs is December 05.

Also Read: Power Grid's valuations make FPO a compelling buy: IIFL

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.

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.