Power Grid Corporation of India Limited files DRHP with SEBI

Power Grid Corporation of India Limited has filed Draft Red Herring Prospectus with SEBI for its forthcoming public issue. The company is planning to come out with a Initial Public Offering of 573,932,895 equity shares of Rs.10 each for cash at a price to be decided through 100% book building process.

The issue comprises a fresh issue of up to 382,621,930 equity shares by Power Grid Corporation of India Ltd and an offer for sale of up to 191,310,965 equity shares by the President of India acting through the Ministry of Power, Government of India.

The issue comprises a net issue to the public of up to 559,954,895 equity shares and a reservation of up to 13,978,000 equity shares for subscription by eligible employees at the issue price. The issue shall constitue approximately 13.64% of the fully diluted post-issue capital of Power Grid Corporation of India Ltd.

The equity shares of the company are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Book Running Lead Managers are ENAM Financial Consultants Private Ltd, Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd. The Registrar to the issue is Karvy Computershare Pvt Ltd.

The website of the company is, Power Grid Corporation of India Limited

The Draft Red Herring Prospectus of the company is available here at: Power Grid Corporation of India Limited

Source : Equity Bulls

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