Navratna PSU Power
Grid Corporation of India Limited (POWERGRID), the country’s
central transmission utility, is proposing a further public offer of
787,053,309 equity shares of face value of Rs 10 each.
The Offer will
open on Tuesday, 3rd December 2013. The Offer
will close on Thursday, 5th December 2013 for QIB
Bidders and on Friday, 6th December 2013 for all
other Bidders.
The Offer
comprises a fresh issue of 601,864,295 Equity Shares by the Company and an
offer for sale of 185,189,014 Equity Shares by the President of India, acting
through the Ministry of Power, Government of India. The Offer comprises a net
offer to the public of 784,053,309 Equity Shares (the “Net Offer”) and a
reservation of 3,000,000 Equity Shares for subscription by Eligible
Employees The Offer would constitute
15.04% of the post offer paid-up equity capital of the Company and the Net
Offer would constitute 14.99% of the post offer paid-up equity capital of the
Company.
The Price Band
has been fixed between Rs 85 and Rs 90 per Equity Share. The minimum bid lot
has been fixed at 150 Equity Shares and in multiples of 150 Equity Shares
thereafter. A discount of Rs 4.50 on the Offer Price is being offered to the
Retail Individual Investors and the Eligible Employees bidding in the Employee
Reservation Portion.
Mr R. N. Nayak,
Chairman and Managing Director of POWERGIRD said:
“Power Grid Corporation of India Limited intends to utilize the net proceeds of
the offer to meet the capital requirements for the implementation of certain
identified transmission projects and general corporate purpose.”
SBI Capital Markets
Limited, Citigroup Global Markets India Private Limited, ICICI Securities
Limited, Kotak Mahindra Capital Company Limited and UBS Securities India
Private Limited have been appointed as the book running lead managers to the
Offer. Karvy Computershare Private Limited is the registrar to the Offer.
The Equity
Shares offered pursuant to this Offer are proposed to be listed on the BSE
Limited and the National Stock Exchange of India Limited (NSE). NSE is the
Designated Stock Exchange for the Offer.
Photocaption:
Left
– Right:, Mr.Vibhor Gupta, UBS,
Sh.Sudhir Mittal, General Manager (CP), Sh.S.Vaithialingam, GM I/C
(Fin), Sh.I.S.JHA,, Director (Proj,
Sh.N.Ravikumar,, Executive Director (SR-II), Sh. Ashish Kumar, Under Secretary,
DOD
For further details, please contact:
U.Christopher
Charles, Mob: 98424 75706, Email: charles@conceptpr.com,
R.Vellaichamy,
Mob: 98845 52209, Email: r.vellaichamy@conceptpr.com.
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