Powergrid – Follow-on-public offer

Power Grid Corporation of India is considering floating a follow-on-public offer (FPO) by the end of this financial year or in the start of next year to mop-up Rs 3,000 crore.

The state-run entity looks to infuse 15% fresh equity through the issue, as added by the company’s CMD S K Chaturevedi.

The company has reported decent numbers for fiscal 2008-09, its net profit surged 16.72% during the fiscal to Rs 1,690.61 crore while the total income rose 38.32% to Rs 7,028.54 crore.

Recently, it bagged an order worth Rs 1,033 crore from Punjab State Electricity Board for turnkey execution of transmission lines and substations.