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Mumbai, Nov. 13

Power Grid Corporation of India has set the issue price for its follow-on public offer at Rs 90 a share. This is at the upper end of the price band that it had announced earlier. Retail investors and employees of the company will get a 5 per cent discount on the offer price, the company said in a late evening communication to the stock exchanges.

PowerGrid's offering, which closed on Friday, was subscribed 14.77 times. It received bids for 1,243 crore shares against 84 crore shares on offer.

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(This article was published in the Business Line print edition dated November 14, 2010)
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