Electricity company Corporation of India Limited is the condition owned company which is one of the most significant power transmission utility companies in India. The company is already an outlined company and now it has got permission from the government of India for another 10% risk sale through Follow on public offer. The concern is expected to struck the markets by August, 2010. FPO
The cabinet panel on Economic Affairs has given its formal acceptance for 20% of the stake sale. The company is going to issue 10% fresh equity and the remaining 10% by diluting the stake of the government. The government of India holds more than 85% of the position in Power grid. This kind of follow on public offer helps power company to raise around Rs eight thousand crores. This will help the company due to the growth plans more than Rs 55, 000 crores.
The merchant bankers would you be assisting the company for the FPO are not yet finalized. But the company has recently started this task.
The shares of this company were trading around Rs 100 and the market capitalization of the business is more than Rs 40, 000 crores. You can check the latest share price and details from BSE and NSE website. As per the norms of the Share Exchange Board of India (SEBI), the follow on public offer is likely to hit the marketplaces after October 5.
Just how to Invest?
If you want to invest in the FPO, you can invest online if you have an online trading account. You have to get a consultation from a certified expert expert before investing.