NEW DELHI . The management of state-run Power Grid will decide on the timing for its follow-on public offer (FPO), assures Union
Minister of State for Power Jyotiraditya Scindia. "I am not one of those ministers that dabble in the functioning of every particular company. If you have a CEO and a CMD in place he or she and the Department of Finance must take that decision," he told CNBC-TV18 in an exclusive interview.
Market watchers, however, remain skeptical with regards to the timing of the issue.However, Scindia argues that no any company works on a long-term trajectory based on what the share price is doing and neither does the economy on the basis of what the Sensex is doing. He says the longer term goal remains creation of value, whether it is NTPC or Power Grid Corporation of India (PGCIL). MoneyControl.com