Power Grid Corporation of India approves FPO

The Board of Directors of Power Grid Corporation of India Ltd at its meeting held on August 01, 2013, have approved the Follow on Public Offer (FPO) of 15% of existing paid up share capital comprising fresh issue of 69,44,58,802 equity shares, for augmenting resources of Company to fund its investment programme, subject to necessary approval of Government of India.

Shares of Power Grid Corporation of India Ltd was last trading in BSE at Rs.91.05, down by Rs.11.90 or 11.56%. The stock hit an intraday high of Rs.100.10 and low of Rs.86.70.

The total traded quantity was 17.30 lakhs compared to 2 week average of 3.88 lakhs.

Source : Equity Bulls

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