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Our Bureau

Mumbai, Sept. 10 The initial public offering of Power Grid Corporation of India Ltd was subscribed 1.07 times at 4 p.m. on the BSE and NSE on Friday, the first day of the book building process.

The total bids received were 61.91 crore shares as against 57.39 crore shares on offer. According to the NSE, data bids were received across all price bands. The price band is fixed at Rs 44-Rs 52.

The company is expecting to raise around Rs 3,000 crore to fund several transmission projects.

The book running lead managers are Kotak Mahindra Capital, Citigroup Global Markets India Pvt Ltd, and Enam Securities.

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