Power Grid Corporation FPO receives subscription of 9.72 times

The Follow-on Public Offering (FPO) of Power Grid Corporation of India Limited has received subscription of 9.72 times till November 11, 2010.

The FPO has received bids for 8184169500 equity shares against the offer of 841768246 equity shares. The issue has received bids for 131433445 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 18.52 times with bids for 7765160520 equity shares against the offer of 419189323 equity shares.

The Non Institutional Investors portion of the issue has received bids for 205391810 equity shares against the offer of 125756797 equity shares resulting in a subscription of 1.63 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 0.72 times with bids for 212359940 equity shares against the offer of 293432526 equity shares.

The Employee Reservation portion has received bids for 1257230 equity shares against the offer of 3389600 equity shares resulting in a subscription of 0.37 times.

The issue closed for subscription by QIBs today November 11, 2010 and closes for subscription by other investors on November 12, 2010.

Source : Equity Bulls

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