PowerGrid FPO shares will begin trading on November 26th. The government raised Rs. 7,575 crore from PowerGrid's share sale, which will fund PowerGrid's Rs. 55,000 crore capex plan over the next two years. MOIL will have its IPO on November 26th, while ONGC and IOC IPOs will occur in the last quarter, and Shipping Corporation of India filed its red herring prospectus with SEBI. MERV is working to electrify M&M vehicles by fitting electric technology into products like Scorpio. BPO companies like Aegis have more employees overseas than in India to be closer to customers. Google will delete personal UK data

1. Weekly News

2. PowerGrid FPO: New shares to start
trading from Nov 26
The company's new shares will start trading on the exchanges from
November 26, PowerGrid Chairman and Managing Director S K Chaturvedi
told reporters here.
The government raked in about Rs 7,575 crore from PowerGrid's share
sale programme.
The funds raised from the FPO will be used for part-funding the PSU's Rs
55,000 crore capex plan, which envisages investment worth Rs 30,900 crore
over the next two years.
company had fixed the issue price of shares under the offer at Rs 90
apiece, the higher end of the IPO price band of Rs 85-90
The FPO received a huge response from investors and was oversubscribed
14.83 times, garnering total demand for 1,248.48 crore shares, as against
84.17 crore shares on offer

3. MOIL IPO on November 26, ONGC, IOC to hit
markets in Q4
• Manganese Ore India Ltd will come out with its IPO on November 26,
while offers of oil majors ONGC and IOC will hit markets in the last quarter
of this fiscal
• He also disclosed that Shipping Corporation of India has filed red herring
prospectus with market regulator SEBI.
• MOIl will sell a total stake of 20 per cent, out of which the Centre's shares
will account for 10 per cent of the total equity.
• Earlier, MOIL Chairman K J Singh had said the initial public offer (IPO) will
consist of total 3.38 crore shares
• Two per cent shares will be reserved for employees, retail investors will
get 5 per cent discount.
• The government is aiming to raise up to Rs 1,500 crore through the MOIL
IPO.

4. MERV working to electrify M&M
• Mahindra Reva’s Electric Vehicles(MERV) world largest
maker of Electric technologies to fit into Mahindra &
Mahindra other products like Scorpio etc.
• M & M has acquired 55.2% stake in Reva Electric
vehicles in May this year.
• It has already tested the prototype of its commercial GIO
with electricity driven technology & already sells two
electric vehicles– Bijlee and Maxximo.

5. BPO companies' overseas strength multiplies
•Mumbai-based BPO company Aegis has more employees overseas (27,000)
than in India (20,000).
•Its operations are spread across ten countries, from the US and Argentina
through Kenya and South Africa to Australia.
•24/7 Customer has 3,000 employees in India, and 6,000 overseas, in
countries like the Philippines, China, Guatemala and Nicaragua.
•BPO firms say they are under pressure to set up part of the operations close
to customer locations to work closer together and also to avoid charges
about job losses in the home country.

6. Google to purge UK personal
data gotten from Wi-Fi
•Google inc. Will delete the personal data collected by
the company's street view cars in britain after regulators
there wrapped up their inquiry into the intrusion.
•It wants to purge all the personal data that its street
view cars gathered after it gains clearance from
regulators in the more than 30 affected countries.