FPO of Power Grid Corporation will hit the market on 9th Nov 2010
State run transmission company Power Grid Corporation's FPO (Follow-on Public Offer) will be available in the market from 9th Nov 2010 to 11th Nov.
- (1888PressRelease) October 28, 2010 - Power Grid Corporation first time offered its IPO in October 2007 disinvesting 5% of government's stake.
This FPO comprises over 84 crore equity shares constituting 20% of existing paid-up capital. The company is planning to raise 10 per cent fresh equity, while the government is likely to offload 10 per cent of its 86.36 per cent stake in PowerGrid.
This may be a good opportunity to invest after Coal India IPO , which managed to raise Rs. 15,000 crores. Moreover, the government is also planning to divest its stake in Manganese Ore India Limited, Hindustan Copper and Shipping Corporation of India in the current fiscal. Hence many PSU IPOs are expected in the coming months. To invest in IPOs or FPOs one needs to have a Dematerialised Account with any operating DP.
The disinvestment in SAIL, ONGC and IOC is expected in the last quarter of the current fiscal. Last fiscal, the government had raised Rs 25,000 crore through stake sale in Oil India, NMDC, REC and NTPC.
If you wish to subscribe to any of these public issues, a demat account is mandatory. Basic documentation required to open a demat account includes a PAN card, residence proof and ID proof. For further details on opening a demat account, visit http://www.onlinestocktrading9.in
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