Power Grid seen listing at 85-100

Power Grid Corporation of India is likely to list on Friday at a premium of 50 per cent to its issue price.

“Strong listing is expected for Power Grid mainly on positive market sentiment. I expect the stock to list a healthy premium,” said Nitin Khandkar of Keynote Capital without giving a range.

Vikas Khemani, co-head, institutional equities, Edelweiss Securities, too is positive on the company. “PGCIL has a good business model and investors will be holding it for long-term gains. The stock is likely to list around Rs 85-90,” he said.

An analyst from another broking firm expects the stock to list at a premium of Rs 40-50. The initial public offering of Power Grid was subscribed 65 times, raising Rs 2,985 crore at the issue price of Rs 52.

The company raised funds to part-finance its capital expenditure