Power Grid FPO opens

Written by: Samyuktha
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Power Grid
Mumbai, Nov 9: The follow-on public offer (FPO) of Power Grid Corp opened for subscription on Tuesday, Nov 9 with a price band fixed at Rs 85 to 90.

Adding to the big advantage of low price, the company is offering a 5 per cent discount for retail investors and employees.

Bids for India's biggest inter-state transmission company FPO can be made for a minimum of 65 equity shares and in multiple of 65 shares thereafter.

The price band of the state-run company's issue has made it a very attractive offer for those looking to invest.

The issue closes on Nov 11 for qualified institutional buyers. For non-institutional and retail investors, the last day would be Nov 12.

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