Power Grid Ipo Issue Price

Latest news about Power Grid Ipo Issue Price: Power grid, Power Grid ipo, Power grid share price, Powergrid ipo 2010, Power grid share price today :Power Grid Corporation of India Limited (PGCIL) is entering into primary market with an Follow-on Public Offer (FPO) of Rs. 7,155.03 � 7,575.91 Crores . The conmpany has informed the share market that the Price Band for Follow-on Offer is fixed as Rs. 85/- to Rs. 90/- per Share and 5% discount will be available to Retail investors and Eligible Employees at the Issue Price on allotment. FPO is opening on 9th Nov 2010 and the shares will be available for subscription up to 12th Nov 2010. The premium of the issue will be decided through a 100% Book Building Process.

The price band for the issue has been fixed at Rs. 85 � Rs. 90 Per Equity Share. The issue will constitute 18.2% of the post issue paid-up capital of company. Power Grid Corporation of India Limited (PGCIL), a Navratna state-owned company, is one of the largest transmission utilities in the world.

The company proposes to utilise the funds from FPO for its projects in the remaining period of the current plan period (2007-12) and for the initial projects in the 12th plan starting April, 2012. Mainly it will be utilised for constructing nine country-wide high capacity power transmission corridors costing USD 13 billion (Rs 58,000 crore).

Issue Detail:-

Issue Open : 9th Nov 2010 � 12th Nov 2010

Issue Type : 100% Book Built Issue IPO

Issue Size : 84,17,68,246 Equity Shares of Rs 10 each

Issue Size : Rs.7,155.03 � 7,575.91 Crores

Face Value : Rs 10 Per Equity Share

Issue Price : Rs. 85 � Rs. 90 Per Equity Share

Market Lot : ― Shares

Minimum Bid Quantity : ― Shares

Listing At : BSE, NSE

The book running lead managers to the issue are ICICI, SBI Cap, Goldman Sachs and JP Morgan.

Registrar of the Issue : Link Intime India Private Ltd. Mumbai. w