The shares of Power Grid Corporation got as high as one hundred and six rupees and seventy paisa within the day and became as low as one hundred and five rupees and ninety paisa within the same day.

At around sixteen minutes past nine in the morning on the National Stock exchange the shares of the firm traded at one hundred and six rupees and thirty five paisa which is a rise of two decimal zero one percent or two rupees and ten paisa  

The firm submitted its reports of the quarter that ended in the month of September of 2010. The net profit made by the company is in the tune of six hundred and fifty one crores of rupees compared to four hundred and sixty crores of rupees on a year-on year basis. The growth recorded by the firm is forty one decimal five two percent.  

The government will be launching the follow-on public offering of Power Grid Corporation (PGIL) within a couple of week’s time from closing of the CIL IPO.  

On 9, November the FPO will start taking subscriptions and will close on 12, November.  

This news was given on Wednesday by the chairperson and managing director of the firm, Mr. SK Chaturvedi.  

In this offering the company will float ten percent of fresh equity shares and the government will disinvest another ten percent of its stakes in the firm. The government holding in the firm is eighty six decimal four percent, as of now.  

Chaturvedi went on to say that a portion of the proceeds from the offering will be invested in the high-power corridor which costs fifty eight thousand crores of rupees and some portion of the fund will be used in the eleventh plan.