Power Grid IPO opens on Monday
The Rs 3000 crore initial public offering of Power Grid Corporation opened for subscription on Monday.
By INDIATIMES NEWS NETWORK |
MUMBAI: The Rs 3000 crore initial public offering of Power Grid Corporation opened for subscription on Monday.
The price band of the 100 per cent book built issue is fixed at Rs 44-52. The issue comprises 57.39 crore shares of Rs 10. The issue closes on Thursday.
The company is raising funds to part-finance its capital expenditure. The country's transmission sector requires an estimated investment of Rs70, 000 crore during the 11th plan.
Power Grid owns and operates most of India’s interstate and inter-regional electric power transmission system. As on June 30, the company owned and operated 61,875 circuit kilometres of electrical transmission lines and 106 electrical substations. In 2006-07 (Apr-Mar) the company transmitted approximately 298 billion units of electricity, representing approximately 45 per cent of all the power generated in India.
The shares will be listed on the Bombay Stock Exchange and National Stock Exchange.
The price band of the 100 per cent book built issue is fixed at Rs 44-52. The issue comprises 57.39 crore shares of Rs 10. The issue closes on Thursday.
The company is raising funds to part-finance its capital expenditure. The country's transmission sector requires an estimated investment of Rs70, 000 crore during the 11th plan.
Power Grid owns and operates most of India’s interstate and inter-regional electric power transmission system. As on June 30, the company owned and operated 61,875 circuit kilometres of electrical transmission lines and 106 electrical substations. In 2006-07 (Apr-Mar) the company transmitted approximately 298 billion units of electricity, representing approximately 45 per cent of all the power generated in India.
The shares will be listed on the Bombay Stock Exchange and National Stock Exchange.
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