Bookbuilding FPO | ₹7,442 Cr | Listed at BSE, NSE | Tue, Nov 9, 2010 - Fri, Nov 12, 2010
PGCIL FPO is a book build issue of ₹7,442.34 crores. The issue is a combination of fresh issue of 42.09 crore shares aggregating to ₹3,721.17 crores and offer for sale of 42.09 crore shares aggregating to ₹3,721.17 crores.
PGCIL FPO bidding started from Nov 9, 2010 and ended on Nov 12, 2010. The shares got listed on BSE, NSE on Nov 25, 2010.
PGCIL FPO price band is set at ₹90 per share. The lot size for an application is 65. The minimum amount of investment required by an retail is ₹5,850 (65 shares) (based on upper price). The lot size investment for sNII is 35 lots (2,275 shares), amounting to ₹2,04,750, and for bNII, it is 171 lots (11,115 shares), amounting to ₹10,00,350.
The issue includes a reservation of up to 33,89,600 shares for employees offered at a discount of ₹4.50 to the issue price.
Goldman Sachs (India) Securities Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to PGCIL FPO RHP for detailed Information.
FPO Open
Tue, Nov 9, 2010
FPO Close
Fri, Nov 12, 2010
Issue Price
₹90 per share
Market Cap (Pre-IPO)
₹41,667.53 Cr
| IPO Date | 9 to 12 Nov, 2010 |
| Listed on | Thu, Nov 25, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹85 to ₹90 |
| Issue Price | ₹90 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding FPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 4.50 per share |
| Employee Discount | ₹4.50 |
| Total Issue Size | 84,17,68,246 shares (agg. up to ₹7,442 Cr) |
| Fresh Issue | 42,08,84,123 shares (agg. up to ₹3,721 Cr) |
| Offer for Sale | 42,08,84,123 shares of ₹10 (agg. up to ₹3,721 Cr) |
| Share Holding Pre Issue | 4,20,88,41,230 shares |
| Share Holding Post Issue | 4,62,97,25,353 shares |
| BSE Script Code / NSE Symbol | 532898 / POWERGRID |
| ISIN | INE752E01010 |
PGCIL FPO comprises a total issue size of 84,17,68,246 shares. The net offer to the public is 83,83,78,646 shares, after excluding 33,89,600 shares under a preferential allotment. Of the Net offer 41,91,89,323 (50.00%) are allocated to QIB, 12,57,56,797 (15.00%) allocated to NII 29,34,32,526 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 41,91,89,323 | 50.00% | 49.80% | NA |
| NII (HNI) Shares Offered | 12,57,56,797 | 15.00% | 14.94% | NA |
| Retail Shares Offered | 29,34,32,526 | 35.00% | 34.86% | 45,14,346 |
| Preferential Reservations | ||||
| Employee Shares Offered | 33,89,600 | 0.40% | NA | |
| Total Shares Offered | 84,17,68,246 | 100.00% | 100.00% | |
Investors can bid for a minimum of 65 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹5,850 |
| Retail (Max) | 34 | 2,210 | ₹1,98,900 |
| S-HNI (Min) | 35 | 2,275 | ₹2,04,750 |
| S-HNI (Max) | 170 | 11,050 | ₹9,94,500 |
| B-HNI (Min) | 171 | 11,115 | ₹10,00,350 |
| Category | Limit | Cut-off |
|---|---|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹2 Lakhs | Yes |
| Employee + RII/NII | Up to ₹2Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
Incorporated in 1989, Power Grid Corporation of India Limited (PGCIL) is Indian government owned, public sector enterprise. PGCIL is in the business of transmission of electric power in India. It owns and operates a large network of transmission lines and infrastructure that constitutes most of India’s interstate and inter-regional electric power transmission system and carries electric power across India.
Power Grid with a network of 150,000 transmission towers in India is planning to grow its telecom business by renting out at least 10-15 percent of its tower infrastructure to the telecom firms in the country. The proceeds will be mainly utilised for constructing nine country-wide high capacity power transmission corridors which would cost it more than Rs 50,000 Crore. Power Grid Corporation announced a 41 percent increase in its net profit to Rs.651 crore for the second quarter of financial year 2010-11. The company’s net profit also increased to Rs.1,354 crore in first six months compared to the Rs.1,006 crore it reported in 2009.
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fresh Issue is to meet the capital requirements for the implementation of certain identified transmission projects. | 3,691.63 |
| Total | 3,691.63 |
| KPI | |
|---|---|
| RoNW | 12.83% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 86.36% | 69.42% |
| Market Cap | ₹41,667.53 Cr. |
The PGCIL FPO IPO subscription status. Full data available on IPOMatrix.com.
| Category | Subscription (times) | Shares Offered | Shares bid for | |
|---|---|---|---|---|
| Total | 14.84 | 84,17,68,246 | 12,49,35,21,170 | |
Power Grid Corporation of India FPO, Power Grid FPO, PGCIL FPO Bidding, Power Grid FPO Allotment Status, Powergrid drhp and Power Grid Corporation of India Limited FPO listing.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees, underwriting commission and selling expenses to the Book Running Lead Managers | 10.58 |
| 2 | Fees of the Registrar to the Issue | 1.94 |
| 3 | Fees of Advisors to the Issue | 0.52 |
| 4 | Listing fees | 0.01 |
| 5 | Advertisementand marketing expenses | 21.30 |
| 6 | Road Show expenses | 1.43 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹90.00 | ₹90.00 |
| Open | ₹95.00 | ₹95.00 |
| Low | ₹94.00 | ₹93.30 |
| High | ₹97.20 | ₹97.25 |
| Last Trade | ₹96.60 | ₹96.55 |
Lead Manager Reports
PGCIL FPO is a main-board FPO of 84,17,68,246 equity shares of the face value of ₹10 aggregating up to ₹7,442 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 65.
The FPO opens on Tue, Nov 9, 2010, and closes on Fri, Nov 12, 2010.
Kfin Technologies Ltd. is the registrar for the FPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in PGCIL FPO using UPI as a payment gateway. Zerodha customers can apply in PGCIL FPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in PGCIL FPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The PGCIL FPO opens on Tue, Nov 9, 2010 and closes on Fri, Nov 12, 2010.
PGCIL FPO lot size is 65, and the minimum amount required for application is ₹5,850.
You can apply in PGCIL FPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for PGCIL FPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the PGCIL FPO allotment status.
The PGCIL FPO listing date is on Thu, Nov 25, 2010.
