Power Grid $1.1 billion share sale fully covered

Written By Unknown on Rabu, 04 Desember 2013 | 23.26

Dec 04, 2013, 04.37 PM IST

By 3:24 pm, the share sale had received bids for 788.5 million shares, most of them from local funds and foreign institutional investors. The company has set a price band of Rs 85 rupees to Rs 90 per share for the offer, with a discount of Rs 4.5 for retail bidders and employees.

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Power Grid $1.1 billion share sale fully covered

By 3:24 pm, the share sale had received bids for 788.5 million shares, most of them from local funds and foreign institutional investors. The company has set a price band of Rs 85 rupees to Rs 90 per share for the offer, with a discount of Rs 4.5 for retail bidders and employees.

Like this story, share it with millions of investors on M3

Power Grid $1.1 billion share sale fully covered

By 3:24 pm, the share sale had received bids for 788.5 million shares, most of them from local funds and foreign institutional investors. The company has set a price band of Rs 85 rupees to Rs 90 per share for the offer, with a discount of Rs 4.5 for retail bidders and employees.

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A USD 1.1 billion share sale in state-run Power Grid Corp of India was fully covered on Wednesday, the second day of the offering, provisional data from the stock exchanges showed.

By 3:24 pm, the share sale had received bids for 788.5 million shares, most of them from local funds and foreign institutional investors.

Details of the price of bids was not immediately available. The company has set a price band of Rs 85 rupees to Rs 90 per share for the offer, with a discount of Rs 4.5 for retail bidders and employees.

The 787.05 million share follow-on offering comprises of a 4 percent stake sale by the government, and fresh issue of 601.9 million shares by the company to raise funds for capital expenditure on transmission projects.

The issue closes on Thursday for institutional buyers and on Friday for other investors.


Power Grid Corp stock price

On December 04, 2013, Power Grid Corporation of India closed at Rs 95.55, up Rs 1.80, or 1.92 percent. The 52-week high of the share was Rs 121.05 and the 52-week low was Rs 86.70.


The company's trailing 12-month (TTM) EPS was at Rs 9.76 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.79. The latest book value of the company is Rs 56.68 per share. At current value, the price-to-book value of the company is 1.69.


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