Power Grid may consider FPO plan early FY11
Sources of Power Grid Corporation told CNBC-TV18 that the company's board is likely to take up FPO (follow-on public offering) plan early FY11.
Government will divest part of its stake with FPO.
The company had raised nearly Rs 3,000 crore from its IPO (initial public offering) in September 2007. Its issue price was at Rs 52.
At 12:23 pm, the share was trading at Rs 109.25, up Rs 3.00, or 2.82%. Its volumes jumped 190% to 958,779 shares, compared to its 5-day average of 330,511 shares. Its current market cap stood at Rs 45,981.59 crore.
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