FPO - Power Grid FPO to open between November 8-10
Your view on this FPO!State-run Power Grid Corporation of India will file draft red herring prospectus for its follow-on public offer (FPO) with the market regulator SEBI on October 22, 2010. FPO will open for subscription on November 08 and close on November 10, 2010.
We have lots of time till 8th Nov. Current focus is on Coal India.
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Thanks policywala!. But I am asking now because current price of Power Grid is 104. It will go up during FPO time. Just looking for short term investment in it.Originally Posted by PolicyWala
Power Grid approves Rs 8,000 crore FPO
Power Grid approves Rs 8,000 crore FPO
India's biggest inter-state transmission company Power Grid Corporation of India is set to hit capital markets again with a follow-on public offer on November 9, 2010.
The Board of Directors of the company in a meeting held on October 20, 2010, has approved the red herring prospectus (RHP) for follow on offer of the company. The subscription for FPO will be opening on November 09, 2010 while closing for QIB bidders on November 11, 2010 and for retail & Non-Institutional bidders (including eligible employees bidding in the Employee Reservation Portion) on November 12, 2010.
Power Grid Corporation has reported net profit at Rs 651 crore in Q2FY11 as against Rs 460 crore, a growth of 41.52% on year-on-year basis. Total revenue jumped 25.04% to Rs 2,127 crore from Rs 1,701 crore (YoY).
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