Nov 19 State-run Power Grid Corp of India's
sale of shares, valued at about $1.2 billion, is
likely to open on Dec. 3, three sources with direct knowledge of
the matter said, in a process that could revive the government's
Power Grid said on Monday that it had filed for a follow-on
offering of 787 million shares, or 17 percent stake, with the
The offering includes fresh issue of 601 million shares and
disinvestment of 185 million shares, or 4 percent stake, by the
The Power Grid issue is likely to remain open for investors
to bid until Dec. 6, said the sources, who declined to be named
as they were not authorised to speak to the media before a
A Power Grid official said the issue was likely to be
launched in December but he was not aware of the launch date.
Ravi Mathur, secretary at the Department of Disinvestment, was
not immediately available to comment.
(Reporting by Sumeet Chatterjee in Mumbai; Editing by Anand