Indian IPO

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Tuesday, February 06, 2007

PowerGrid issue to enter capital market in April

Power Grid Corporation of India's initial public offering, IPO is slated to come out in April and the State-owned transmission major is likely to appoint merchant bankers for the issue this week, the company chairman, R P Singh, said on Monday.

The company plans to sell 10% of its equity capital through the IPO, Singh told reporters.

"We are hoping a good response for the IPO and it all depends on the market conditions," he said, reports The Hindu Business Line.

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