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The board of Power Grid Corporation of India (PGCIL) cleared a proposal to sell 15 per cent stake through Follow on Public Offer in order to raise funds for its investment plans. The company would be able to sell the stake only after getting necessary approval from the government. This would be the second time that Power Grid would be going for FPO after doing the same in November 2010. In September 2007, Power Grid was listed on the bourses.