Power Grid Corporation will open its FPO for subscription on Tuesday the 9^th of November and close for QIB’s on Thursday the 11^th of November. The issue will close for other investors on Friday the 12^th of November. The issue consists of a fresh offer of shares of 10% and an equal quantity by way of offer of sale from the Government of India who currently owns 86.36% of the equity of the company.

The current equity of the company stands at Rs 4208.84 crs or 420.88 cr shares. The fresh issue would be for 42.09 cr shares and a similar quantity would be the offer for sale making a total of 84.18 cr shares. The closing share price as on yesterday was Rs 105.65 implying a market capitalisation of 44,466.39 crs. Based on this market price the issue size would be Rs 8,800 crs and would be at a discount to the current price.

Assuming a discount of 10% to the current market price the issue size would be Rs 8000 crs.