Bookbuilding IPO | ₹2,984 Cr | Listed at BSE, NSE | Mon, Sep 10, 2007 - Thu, Sep 13, 2007
PGCIL IPO is a book build issue of ₹2,984.45 crores. The issue is a combination of fresh issue of 38.26 crore shares aggregating to ₹1,989.63 crores and offer for sale of 19.13 crore shares aggregating to ₹994.82 crores.
PGCIL IPO bidding started from Sep 10, 2007 and ended on Sep 13, 2007. The shares got listed on BSE, NSE on Oct 5, 2007.
PGCIL IPO price band is set at ₹52 per share. The lot size for an application is 125. The minimum amount of investment required by an retail is ₹6,500 (125 shares) (based on upper price). The lot size investment for sNII is 31 lots (3,875 shares), amounting to ₹2,01,500, and for bNII, it is 154 lots (19,250 shares), amounting to ₹10,01,000.
The issue includes a reservation of up to 1,39,78,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Citigroup Global Markets India Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to PGCIL IPO RHP for detailed Information.
IPO Open
Mon, Sep 10, 2007
IPO Close
Thu, Sep 13, 2007
Issue Price
₹52 per share
Market Cap (Pre-IPO)
₹21,885.97 Cr
| IPO Date | 10 to 13 Sep, 2007 |
| Listed on | Fri, Oct 5, 2007 |
| Face Value | ₹10 per share |
| Price Band | ₹44 to ₹52 |
| Issue Price | ₹52 per share |
| Lot Size | 125 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 57,39,32,895 shares (agg. up to ₹2,984 Cr) |
| Fresh Issue | 38,26,21,930 shares (agg. up to ₹1,990 Cr) |
| Offer for Sale | 19,13,10,965 shares of ₹10 (agg. up to ₹995 Cr) |
| Share Holding Pre Issue | 3,82,62,19,300 shares |
| Share Holding Post Issue | 4,20,88,41,230 shares |
| BSE Script Code / NSE Symbol | 532898 / POWERGRID |
| ISIN | INE752E01010 |
PGCIL IPO comprises a total issue size of 57,39,32,895 shares. The net offer to the public is 55,99,54,895 shares, after excluding 1,39,78,000 shares under a preferential allotment. Of the Net offer 27,99,77,448 (50.00%) are allocated to QIB, 8,39,93,234 (15.00%) allocated to NII 19,59,84,213 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 27,99,77,448 | 50.00% | 48.78% | NA |
| NII (HNI) Shares Offered | 8,39,93,234 | 15.00% | 14.63% | NA |
| Retail Shares Offered | 19,59,84,213 | 35.00% | 34.15% | 15,67,873 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,39,78,000 | 2.44% | NA | |
| Total Shares Offered | 57,39,32,895 | 100.00% | 100.00% | |
Investors can bid for a minimum of 125 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 125 | ₹6,500 |
| Retail (Max) | 30 | 3,750 | ₹1,95,000 |
| S-HNI (Min) | 31 | 3,875 | ₹2,01,500 |
| S-HNI (Max) | 153 | 19,125 | ₹9,94,500 |
| B-HNI (Min) | 154 | 19,250 | ₹10,01,000 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1989, Power Grid Corporation of India Limited (PGCIL) is Indian government owned, public sector enterprise. PGCIL is in the business of transmission of electric power in India. It owns and operates a large network of transmission lines and infrastructure that constitutes most of India’s interstate and inter-regional electric power transmission system and carries electric power across India.
As of March 31, 2007 PGCIL owned and operated 59,461 circuit kilometers of electrical transmission lines and 104 electrical substations. In Fiscal 2006, PGCIL transmitted approximately 279 billion units of electricity, representing approximately 45% of all the power generated in India.
PGCIL is also into the consultancy business and has provided transmission-related consultancy services to more than 90 clients in over 200 domestic and international projects.
PGCIL is also into the telecommunications business and own and operate a fiber-optic cable network for telecom business in India. As on March 31, 2007 PGCIL has over 19,000 kilometers long fiber-optic cable network connecting over 60 Indian cities, including all major metropolitan areas.
PGCIL have been designated a Mini-Ratna Category-I public sector undertaking and in fiscal 2006, generated a total income of Rs. 35,543.14 million with profit after tax of Rs 9204.19 million. Transmission and transmission-related activities constituted 93.88% of total income, with the balance came from consulting and telecommunication businesses.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet the capital requirements for the implementation of certain identified transmission projects and | 1,966.26 |
| 2 | Total Issue Expenses | 34.57 |
| Total | 2,000.83 |
| KPI | |
|---|---|
| RoNW | 10.16% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% | 86.36% |
| Market Cap | ₹21,885.97 Cr. |
The Power Grid IPO is subscribed 64.82 times on September 13, 2007 5:00:00 PM (Day 4). The public issue subscribed 6.77 times in the retail category, 115.9 times in the QIB category, and 40.34 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management, underwriting and selling commission | 4.95 |
| 2 | Advertisement & Marketing expenses | 13.48 |
| 3 | Printing, stationery including transportation of the same | 8.29 |
| 4 | Others (Registrar’s fees, Legal fees, listing fees, etc.) | 7.85 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹52.00 | ₹52.00 |
| Open | ₹85.00 | ₹89.80 |
| Low | ₹85.00 | ₹83.15 |
| High | ₹109.40 | ₹109.50 |
| Last Trade | ₹100.65 | ₹100.60 |
PGCIL IPO is a main-board IPO of 57,39,32,895 equity shares of the face value of ₹10 aggregating up to ₹2,984 Crores. The issue is priced at ₹52 per share. The minimum order quantity is 125.
The IPO opens on Mon, Sep 10, 2007, and closes on Thu, Sep 13, 2007.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in PGCIL IPO using UPI as a payment gateway. Zerodha customers can apply in PGCIL IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in PGCIL IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The PGCIL IPO opens on Mon, Sep 10, 2007 and closes on Thu, Sep 13, 2007.
PGCIL IPO lot size is 125, and the minimum amount required for application is ₹6,500.
You can apply in PGCIL IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for PGCIL IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the PGCIL IPO allotment status.
The PGCIL IPO listing date is on Fri, Oct 5, 2007.
