The stock of PowerGrid Corporation will remain in focus this week, as the company opens its follow-on public offer to the public. The price band for the FPO has been set at Rs 85-90 a share.
The issue will open on December 3 and close on December 5 for institutional investors, and on December 6 for retail category and employees, who also enjoy a 5 per cent discount on the issue price.
The stock had closed at Rs 94.9 on Friday. After the stake-sale, the Government’s holding in PowerGrid will come down to 57.89 per cent from the current 69.42 per cent.