A maturing market amid the mayhem
Power Grid drops after FPO pricing
Power Grid shares fell 3.6 percent to 98.35 rupees on Monday after the government set a price range for its follow-on share offer at a discount to 12-17 percent to Friday’s closing price.
Power Grid, which launches a share sale to raise up to $1.7 billion, aims to double capital spending to about $27 billion in the five years starting in April 2012 to meet booming demand for electricity.
The government has set a price range for the share sale at 85-90 rupees each. Analysts see this pricing as attractive for investors. Do you think it is the right time to invest in this stock?