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The company got delisted from BSE, NSE, and MSE with effect from June 25, 2012, June 18, 2012, and June 25, 2012, respectively, according to draft papers
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The company may decide to undertake a pre IPO placement of 75 crore subject to consultation of the merchant bankers
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The Rs 7,735-crore PowerGrid InvIT IPO received bids for 2,05,40,48,700 units against 42,54,25,000 units on offer, as per the NSE data
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Angel Broking said if Indian investors look beyond the immediate warning signs, there is a silver lining on the horizon
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The IPO comprises a fresh issue of shares worth Rs 4,993.48 crore and offer for sale to the tune of Rs 2,741.50 crore by selling shareholders.
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The issue received bids for 25.81 crore units as against 42.54 crore units on offer.
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The main objective of InvITs is to promote the infrastructure sector by encouraging more individuals to invest in it
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Power Grid Infrastructure Investment is owned by the state-run Power Grid Corporation of India
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Proceeds from the fresh issue would be used towards funding organic and inorganic growth initiatives; and general corporate purposes.
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The price band for PowerGrid Infrastructure Investment Trust IPO has been fixed at Rs 99-100 a share