Power Grid IPO receives 64.81 times subscription

The Initial Public Offering (IPO) of Power Grid Corporation of India Ltd which closed for subscription today (September 13, 2007) has received overwhelming response from investors with subscription of 64.81 times. The IPO opened for subscription on September 10, 2007.

The company has come out with an IPO of 57,39,32,895 Equity Shares of Rs.10 each at a price band of Rs.44/- to Rs.52/- through 100% Book Building process.

The IPO received bids for 37197623500 equity shares against the offer of 573932895 shares. The issue received bids for 1274502500 equity shares at Cut-off price.

Source : Equity Bulls

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