Power Grid FPO shares to be listed on Nov 23

India's biggest inter-state transmission firm, Power Grid Corporation, will list its equity shares, issued recently via follow-on public offer (FPO), on exchanges on November 23, 2010 . Date for the basis of allotment is yet to be decided.

The company has fixed an issue price at Rs 90 a share, at higher end of price band of Rs 85-90. However, retail investors and employees will get shares in allotment at Rs 85.5, a 5% discount to issue price.

Foreign, non-institutional and retail investors showed strong response to the issue; their portion subscribed 18.52 times, 28.86 times and 3.85 times, respectively. Overall the issue was subscribed 14.88 times.

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