Power Grid Corporation of India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on January 25, 2010, have accorded the following: 1. Approval to investment approval for 'Immediate evacuation System for Nabinagar TPS' (1000 MW) at an estimated cost of Rs. 215.86 crore, with commissioning schedule of within 28 months from the date of investment approval, and 2. In Principle approval to 'Follow on Public Offer'(FPO) of equity shares of 10% of paid up capital from domestic / external market for augmenting resources of Company to fund its investment programme. This will be subject to approvals by Government of India and approvals as required for FPO.
Source: BSECourtesy moneycontrol.com
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