Power Grid IPO Update

Power Grid IPO has been subscribed 65 times. FII part is subscribed 115 times. NOn Institutional Investors part 40 times and retail part 6.76. I had expected this to be 7.5. This means those who applied for 875 shares will get firm allotment and those in other categories ie less than 875, chances will improve.

FII subscription being 115 times should give a good premium for powergrid listing as lot of appetite will be there to get in secondary market because if an FII had applied for 100 thousand shares, they would not even get 1000 shares. This will drive up the price on listing. I will not be surprised if powergrid lists around 82.