Power Grid FPO Retail Subscription

by admin on November 11th, 2010

Power Grid FPO : Power Grid FPO Status

Power Grid, India has come up with FPO (Follow-on public offer). The last date for QIB(qualified institutional buyers) is over (it was 11th Nov). The issue is 15.29
times oversubscribed in NSE for QIB. As per the NSE website the QIB has made bid for 6410796080 shares for 419189323 shares reserved for QIBs, making a over-subscription of 15.29 times.

Retail Subscription

The Power Grid FPO Retail Subscription has also shown good performance, the issue is already subscribed 0.61 times in NSE. Considering tomorrow as the last date for Retail Investors, this number is set to increase. Retail Investors are in a habit to make bids on the last date, this pattern has been observed in earlier IPOs as well. So the Retail Subscription number is set to be over subscribed.

The price band is set at Rs 85-90 per share. The issue will close for subscription on November 12 for non-institutional and retail investors.

Retail investors and employees will get equity shares at 5% discount to the final issue price. Bids can be made for a minimum of 65 equity shares and in multiples of 65 shares thereafter.

For latest subscription details please visit NSE Website

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