MUMBAI: Shares of Power Grid Corporation of India on Friday listed at Rs 90 on the National Stock Exchange, against the issue price of Rs 52 per share.
At 9:55 am, the share was at Rs 90, up Rs 38 or 73.08 per cent with volume traded at 77,39,973 shares.
On the Bombay Stock Exchange, Power Grid opened at Rs 91, a premium of Rs 39 or 73.9 per cent. Around 1,21,205 shares were traded in the counter.
On Thursday, www.economictimes.com had said the stock was likely to list in the range of Rs 85-100.
Power Grid is India’s largest central transmission utility, handling around 45 per cent of the power generation and has been accorded a mini-navratna status by the government. Its initial public offer was subscribed 64.50 times, with the qualified institutional buyers’ portion subscribed 115.47 times.
The company raised funds to part-finance its capital expenditure. The transmission sector requires an estimated investment of Rs 70,000 crore during the 11th plan and central utilities led by Power Grid are expected to contribute as much as Rs 50,000 crore.
Power Grid owns and operates most of India’s interstate and inter-regional electric power transmission system. Till June 30, 2007, the company owned and operated 61,875 circuit km of electrical transmission lines and 106 electrical substations.
In 2006-07 (Apr-Mar) the company transmitted around 298 billion units of electricity, representing 45 per cent of all the power generated in India.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment