Power Grid offers FPO today !

The follow-on-public offer (FPO) of Power Grid Corporation of India opens today. The 17 percent stake sale in the state-run company is expected to garner up to Rs 7,083 crore. The price band for the issue has been fixed at Rs 85-90 a share. The company may garner close to Rs 5,717 crore, while the government will get around Rs 1,758 crore.

This is a good news to get the FPO of power grid which can give a boost in the market which is now stable.

To carry out various operational and functional activities companies raises funds by public by issuing IPOs and FPOs. More then Rs 26,000 crore was raised through 26 companies through IPOs.