Power Grid Corporation is planning to introduce FPO in the market. The price band of Rs. 85-90 per share has been fixed for the launch of Power Grid's FPO. The FPO will open on 3rd December and will closing date for it is 6th December 2013. The FPO will remain close on 5th December for the Institutional Investors and will remain open on next day 6th December for the retail investors and employees. This launch of FPO will be of 17% equity which will constitute the 13% of new equity shares while 4% of the Government's equity will be invested in this launch. At present the Government has the 69.42% holdings in the Power Grid which will come down to 57.89% after the launch of this FPO. Government has planned to raise Rs 7,500 crore from this launch. From this launch of issues company will receive total amount of Rs 1,800 crore.
The Indian stock market is gearing up for the launch of this FPO. Since a long time market had been waiting for a appropriate public issue which is going to start on 3rd December. On the application of Rs 1,00,000 you may get the premium of 2,500-2,600 in the gray market on the FPO of Power Grid.
No comments :
Post a Comment
Note: Only a member of this blog may post a comment.