power grid fpo allotment | power grid fpo allotment status, power grid allotment

power grid fpo allotment | power grid fpo allotment status, power grid allotment

Power Grid FPO Allotment will soon began and the registrar of Power Grid FPO which is Karvy will make the information available online. Power Grid Corporation has so far not released the date when the shares will be credited to the demat accounts or the basis of allotment.

Power Grid FPO Allotment

Power Grid Corporation has fixed an issue price at Rs 90 a share which is at the higher end of price band of Rs 85-90.Retail investors and employees will be alloted Shares at a discount of 5% discount to issue price at Rs 85.50.

Some analysts believe shares will be alloted in the ratio of 1:4 for retail investors as the portion reserved for retail investors was oversubscribed 3.85 times.

The registrar for Power Grid FPO – Karvy Computershare Pvt Ltd has not yet updated it’s online database with the details of allotment. Once the allotment is done and the information is available , we will update you.

Power Grid FPO Listing

The shares issued in the FPO can be traded on the BSE and NSE from November 23rd onwards a source from the company informed the media. Hence investors can expect the shares to be credited to their demat accounts on 21st or 22nd. The refunds are expected to be credited by ECS to the bank accounts for those retail investors who have applied online.

Posted by musicking on Nov 18 2010. Filed under Business news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry