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Forthcoming PSU IPOs in India

November 27, 2006

The Cabinet Committee on Economic Affairs have cleared the IPO offerings of the following PSU companies.

  • Power Finance Corporation Ltd – 11,73,16,700 shares equivalent to 10.22% of post-equity capital.
  • Power Grid Corporation of India Ltd – Fresh issue of shares which will not exceed 24% of the paid-up equity capital of the company.
  • Rural Electrification Corporation Ltd – Issue of 15.6 crore shares which is about 20% of the post-equity capital.
  • Bharat Earth Movers Ltd – 49,00,000 equity shares at a price to be determined by current market price of BEML during the issue.

All of these IPOs are likely to hit the market in between Jan-07 and March-07. Stay tuned for more developments.

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