Power Grid seen listing Rs 85-100/share Friday

Power Grid seen listing Rs 85-100/share Friday

MUMBAI: Power Grid Corporation of India is likely to list Friday at a premium of 50 per cent to its issue price. “Strong listing is expected for Power Grid mainly on positive market sentiment. I expect the stock to list a healthy premium,” said Nitin Khandkar of Keynote Capital without giving a range. Vikas Khemani, co-head, institutional equities, Edelweiss Securities, too is positive on the company.

“PGCIL has a good business model and investors will be holding it for long-term gains. The stock is likely to list around Rs 85-90,” he said. An analyst from another broking firm expects the stock to list at a premium of Rs 40-50. The initial public offering of Power Grid was subscribed 65 times, raising Rs 2,985 crore at the issue price of Rs 52. The company raised funds to part-finance its capital expenditure


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