FPO – Power Grid Issue Dec 2013

Power Grid Corporation of India Ltd is coming up with a further Public Offer  (FPO) of its shares between 3 Dec 2013  to 6 Dec 2013. The price band of issue is Rs. 85 to Rs. 90 per equity Share (Discount for  Retail Investor is Rs. 4.50 ).

Allotment on First come First Serve Basis

Company Profile

About Company

Power Grid is India’s principal electric power transmission company with almost 25 years of existence.  As on Sep 2013 company owned and operated more than 90% of india’s ISTS which, inter-alia, includes interregional transmission links.

On a consolidated basis, company’s gross asset, revenues and net profits have grown from Rs. 35,205.6 million, Rs. 6,340.60 million and Rs. 2,366.10 million respectively in Fiscal 1993 to Rs. 823,264.4 million, Rs. 137,271.20 million and Rs. 43,126.10 million respectively in Fiscal 2013.

Conferred the status of “Navratna” by GoI in May 2008. Received the highest annual performance rating of “Excellent” from the GoI in each year since Fiscal 1994.

As at Sep. 30, 2013, were engaged in providing consultancy service to client in over 116 domestic and 20 international projects.

Financial Analysis :

  • Total Income has grown at CAGR of 17.26% since 2009
  • EDITDA has grown at CAGR of 18.36% since 2009.
  • PAT has grown at CAGR of 20.16% since 2009.
  • EPS has grown from 3.81 in 2009 to 8.70 in 2013

Key Strengths

  • Leadership position in Indian Power transmission sector.
  • High operational efficiencies.
  • Effective project implementation.
  • Attractive tariffs and networks, competitive landscape and business model.
  • Government support
  • Growing business portfolio.
  • Strong financial position and cash flow from operations.
  • Skilled and experienced senior management team and competent and committed workforce

Issue Details

Issue Open3 Dec 2013
Issue Close6 Dec 2013
Issue Size 787053309 Equity Shares (6689.95 Cr to 7083.48 Cr)
Price BandRs. 85 - Rs. 90 (Rs 4.50 discount for Retail Investor & Employee)
Bid Lot150 Equity Shares
Cheque in Favour of (Retail Investor)Escrow Account - PGCIL Public Offer - R
Registrar of IssueKarvy Computershare
IPO Grade
 Payment Schedule for Retail Application (Discount 4.50)  90-4.50= 85.50
No. of SharesPrice per ShareCheque Amount (Rs)
No. of SharesPrice per ShareCheque Amount (Rs)
15085.512825
30085.525650
45085.538475
60085.551300
75085.564125
90085.57950
105085.589775
120085.5102600
135085.5115425
150085.5128250
165085.5141075
180085.5153900
195085.5166725
210085.5179550
225085.5192375

 

 

 

Subscription Details

Subscription Data for 

DateFigure In Cr.Cat 1Cat 2Cat 3Cat 4Total
Issue Size3920266551176079962744186583000000787053309
5 DecSubscribe35623168501435080017927970014449503757392300
No of times9.090.120.650.484.77
4 DecSubscribe78953205020025043262100498000833492400
No of times2.010.000.160.171.06
3 DecSubscribe53486760047250866710048000543229950
No of Times1.360.000.030.020.69

 

Allotment Listing

Registrar of Issue     :    KarvyComputershare

Listing                           :    NSE & BSE

Check Allotment Status 

 Basis of Allotment Ratio of NTPC Tax Free Bonds. Credit of bonds has happened yesterday and refunds are going today.

Category Applied

Allotment

% Allotment

QIB

4230000

1750000

                  41.37

Corporate

13816550

4375000

                  31.66

HNI

7791768

4375000

                  56.15

Ind (1st Day)

6720204

6720204

                100.00

Ind (2nd Day)

2044416

279796

                  13.69

 

 

 

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