Power Grid sets New Record

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The NSE and BSE shutdown systems accepting applications for the IPO of Power Grid corporation of India Ltd. Our IPO Analyst had a Blindly Subscribe recommendation for the Public issue.

At 20:00 hrs IST, the cumulative demand was 64.77 times higher than what was offered making this the biggest success IPO success stories in the history of Indian capital markets.

The Big Numbers:
IPO Offering was for Rs 2,985 crore [$742 million]. Together the company received bids amounting to $48 Billion. This is BIG BIG Number. This record was previously held by Power Finance Corporation of India Ltd.Few years ago, the entire budget of Republic of India was $100 Billion and today just one Indian company is seeing a demand half of the Indian Budget 🙂