NTPC tax-free bond issue oversubscribed 3.3 times

new delhi: NTPC Ltds tax-free bond issue that opened on Tuesday was oversubscribed over three times on the first day itself. The bond issue by the power major,coming after a gap of nearly two decades,is aimed at garnering Rs 1,000 crore with an option to retain over-subscription of up to Rs 750 crore.

NTPC,as on Tuesday evening,it had collected about Rs 3,310 crore,which works to Rs 2,310 crore above the base size. The qualified institutional buyer category was oversubscribed by 4.2 times,garnering Rs 423 crore against allocation of Rs 100 crore. Corporates contributed Rs 1,374 crore against an allocation of Rs 250 crore while HNIs chipped in with Rs 851 crore against an allocation of Rs 250 crore. ens

PGCIL issue subscribed 69%

Mumbai: The follow-on-public offer of Power Grid Corporation of India (PGCIL) was subscribed 69 per cent on the opening day today. Of the 78.70 crore shares offered for sale,total bids for 54.32 crore shares were received,as per the data available on the bourses. As many as 72.98 lakh bids came at the cut off price of the issue. Shares of PGCIL closed at Rs 93.75,up 0.37 per cent on the BSE. pti