The subscription of Power Grid Corporation of India IPO was opened from 10th September 2007 to 13th September 2007. The price range of Power Grid Corporation of India IPO was between Rs. 44 and Rs. 52. The proceeds from Power Grid Corporation IPO were submitted to the National Investment Fund (NIF). Citigroup, Kotak and Enam were the lead managers for the Power Grid Corporation IPO. Karvy Computershare private limited was the registrar for the Power Grid Corporation IPO.
In the year 2006, Power Grid Corporation of India Limited (PGCIL) reported a 28 percent jump in the net profit which amounted to Rs 1,009 crores. The company launched their IPO in 2007 and the subscription was opened from 10th September 2007 to 13th September 2007.
The shares of the IPO of Power Grid Corporation of India had a price range of Rs. 44 to Rs. 52 per share. The funds raised from Power Grid Corporation IPO were submitted to the National Investment Fund (NIF). The lead managers of the IPO of Power Grid Corporation include Kotak, Citigroup and Enam. Power Grid Corporation of India (PGCIL) raised a capital of Rs 6,000 crores through the IPO. The proceeds from the IPO will be used to set up branches in almost 12 countries across the globe. A unit will be set up in China in order to provide consultancy services, accomplish several projects and operate transmission lines and grid network. The funds raised by the Power Grid Corporation of India IPO will be used to execute the company's power transmission projects. 15 different projects will be entrusted with fresh fund solutions.
The Power Grid Corporation (PGCIL) has filed draft prospectus with Securities Exchange Board of India (SEBI) for its Initial Public Offerings (IPO) activity and disinvestment of government equity. PGCIL has issued 10 percent new equity in the Indian market and government will sell 5 percent share in the corporation. Each share of the state-owned transmission major would cost Rs.10 and the paid-up capital is estimated to be around Rs 3,800 crores. The company planned up for making an investment of Rs 55,000 crores during the period ranging from 2007 to 2012.
