 "EuroPacific Growth Fund raises Power Grid stake to over 5%")
New Delhi: EuroPacific Growth Fund, one of the largest shareholders in Power Grid, has hiked its stake in the state-run utility to 5.4 percent after acquiring additional shares through the open market.
The Foreign Institutional Investor has increased its shareholding in Power Grid to 5.419 per cent from 4.681 percent, according to a regulatory filing today.[caption id=“attachment_1303249” align=“alignleft” width=“380”]
Power stocks. Reuters[/caption]
The entity acquired about 3.9 crore shares, making up for around 0.738 per cent stake in the power transmission firm.
These scrips were acquired through open market on December 19, the filing said.
At the end of September quarter, EuroPacific Growth Fund had 3.91 percent stake in the company.
Earlier this month, Power Grid sold 78.70 crore shares through a Follow on Public Offer (FPO). It included a fresh issue of 60.18 crore equities and sale of over 18.51 crore scrips by the government.
Shares of Power Grid closed flat at Rs 99.55 on the BSE.
PTI