Electricity company Corporation of India Limited is the express owned company which is one of the greatest power transmission utility companies in India. The company is already a shown 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 strike the markets by Oct, 2010. FPO
The cabinet panel on Economic Affairs has given its conventional endorsement for 20% of the stake sale. The company is about 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 because of its development plans more than Rs 55, 000 crores.
The merchant bankers who be assisting the company for the FPO are not yet finalized. But the company has 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 Inventory Exchange Board of India (SEBI), the follow on public offer is likely to hit the market segments 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.