Power Grid Corporation FPO Retail Subscription At 3.18 Times

Power Grid Corporation of India was oversubscribed by 14.37 times as on 12^th November, 2010, which was the last day of bidding. The portion of Retail Individual Investors (RII) was subscribed 3.18 times, which is more than the retail subscription to Coal India’s IPO. However, Coal India’s IPO was priced at Rs. 225-245.As of Friday, the follow-on public offer (FPO) had obtained bids for 1209.96 crore shares while only 84.17 crore was on offer.
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