Power Grid FPO 2013 – Apply

Update Jan 01 2014

The PGCIL FPO and subsequent price action has so far rolled out in expected fashion.

  • Retail investors who followed the buy recommendation at FPO, and applied for the maximum shares at Cut-off would have received 1029 shares (after applying for 2250) at Rs 85.5 .
  • This translates to a gain of Rs 14,400 at todays CMP of 99.5.
  • A gain of 16.4% so far, in just a month of investing.

What should you do now?

The market and the share looks good so far, so hold on if you can for more gains.

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FPO Update 11th Dec

  • The FPO closed finally with 6.74 times subscription. Of this, Retail was 2.17 X, QIB 9.09 X and HNI 9.7 X.
  • So Retail applicants should get 40-60% of their applied shares.
  • The pricing declared in this FPO was Rs 90, at the upper end of the range. Thus the FPO has been a success, and has raised about Rs 7000 crores.
  • This success indicates a mood change in the market. Certainly many firms will now approach the market with IPO/FPO offerings. Also its obvious that institutions and HNIs are participating/ investing more than Retail.
  • Time for the rise of Indian Retail?

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FPO Analysis

  • Published on: Dec 6, 2013 @ 11:39
  • Pricing: Rs 85-90 range
  • Issue Period:  3-6 Dec 2013 
  • Retail gets an additional 5% discount

Positives:

1) a PSU semi monopoly for power transmission
2) guaranteed returns on assets; predictable income and cash flow
3) over 15%…

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