India gets a boost with $1.1 billion Power Grid sale

The deal, which included a $260 million sell-down by the government, is priced at the top of the range after being 6.7 times covered.
The Power Grid IPO is India's first big equity capital markets transaction of the past six months
The Power Grid IPO is India's first big equity capital markets transaction of the past six months

Power Grid Corp of India, the country’s largest power transmission company, has fixed the price for its follow-on offering at the top of the indicated range, at Rs90 per share, for a total deal size of Rs69.59 billion ($1.11 billion).

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media