indias-power-grid-prices-at-top-of-range

India's Power Grid prices at top of range

The government-controlled power transmission company raises $715 million making this the second largest IPO by an Indian company this year.
September 16, 2007
IndiaÆs Power Grid Corporation has fixed the price of its initial public offering at the top of the Rs44 to Rs52 range for a total deal size of Rs29.8 billion $715 million, according to a source close to the deal.

The pricing, which makes this the second largest IPO by an Indian company this year after property developer DLFÆs $2.4 billion deal in June, came as no surprise after the deal was close to 65 times covered overall. The Indian stockmarket has also continued to head higher since the company set the price range, making Power GridÆs valuation relatively more appealing. Since the launch of the roadshow on August 29, the benchmark Sensex...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222