Power Grid Corporation’s FPO opens December 3 - 2013

Navratna PSU Power Grid Corporation of India Limited (POWERGRID), the country’s central transmission utility, is proposing a further public offer of 787,053,309 equity shares of face value of Rs 10 each.

The Offer will open on Tuesday, 3rd December 2013. The Offer will close on Thursday, 5th December 2013 for QIB Bidders and on Friday, 6th December 2013 for all other Bidders.

The Offer comprises a fresh issue of 601,864,295 Equity Shares by the Company and an offer for sale of 185,189,014 Equity Shares by the President of India, acting through the Ministry of Power, Government of India. The Offer comprises a net offer to the public of 784,053,309 Equity Shares (the “Net Offer”) and a reservation of 3,000,000 Equity Shares for subscription by Eligible Employees  The Offer would constitute 15.04% of the post offer paid-up equity capital of the Company and the Net Offer would constitute 14.99% of the post offer paid-up equity capital of the Company.

The Price Band has been fixed between Rs 85 and Rs 90 per Equity Share. The minimum bid lot has been fixed at 150 Equity Shares and in multiples of 150 Equity Shares thereafter. A discount of Rs 4.50 on the Offer Price is being offered to the Retail Individual Investors and the Eligible Employees bidding in the Employee Reservation Portion.

Mr R. N. Nayak, Chairman and Managing Director of POWERGIRD said: “Power Grid Corporation of India Limited intends to utilize the net proceeds of the offer to meet the capital requirements for the implementation of certain identified transmission projects and general corporate purpose.”

SBI Capital Markets Limited, Citigroup Global Markets India Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited and UBS Securities India Private Limited have been appointed as the book running lead managers to the Offer. Karvy Computershare Private Limited is the registrar to the Offer.

The Equity Shares offered pursuant to this Offer are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited (NSE). NSE is the Designated Stock Exchange for the Offer.

Photocaption:

Left – Right:, Mr.Vibhor Gupta, UBS,  Sh.Sudhir Mittal, General Manager (CP), Sh.S.Vaithialingam, GM I/C (Fin),  Sh.I.S.JHA,, Director (Proj, Sh.N.Ravikumar,, Executive Director (SR-II), Sh. Ashish Kumar, Under Secretary, DOD

For further details, please contact:

U.Christopher Charles, Mob: 98424 75706, Email: charles@conceptpr.com,

R.Vellaichamy, Mob: 98845 52209, Email: r.vellaichamy@conceptpr.com.

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