Mumbai: The shares of Power Grid Corp of India Ltd (PGCIL) have made initial entry at Rs 85 today on the Bombay Stock Exchange, up 63.46% from its early price of Rs 52 each share.

In early trading, the shares were dealing at Rs 91 on the BSE with total volume of 43.86 million shares.

The state-run power transmission company has lifted Rs 2,984 crore by the 573.9 million-share issue that consists of a fresh offering of 382.6 million shares and sale of 191.3 million shares by the administration.

The Government’s holding will drop to 86.36 per cent from 100 per cent after the issue. The income from the issue will aid fund 15 transmission projects worth Rs 12,700 crore.