NHPC to be listed on Sept 1

NHPC would be listed on the stock exchanges on September 1, 2009 on Bombay Stock Exchange. "From September 1, the equity shares of NHPC Ltd shall be listed and admitted to dealing in the exchange," the Bombay Stock Exchange (BSE) said in a statement today.

The company raised Rs 6,000 crore through its initial public offer (IPO) that closed on August 12. It had come out with 167.73 crore shares in the primary market in the price band of Rs 30-36.

Over one-third stake is being held by the government in NHPC, which is the sole promoter of the company.

The IPO proceeds would be used to part fund the company's ongoing investments in 11 projects. It also has plans to add 14,000 MW of power by 2020 for which it has either completed survey of projects or was in the process of surveying several others.

NHPC, Oil India IPO this year: FM

The government on Tuesday said that it would come out with Initial Public Offer (IPO) of NHPC Ltd and Oil India by divesting its stake in these companies in the current fiscal. But on the other hand, it has deferred public issue of RITES Ltd. Along with this, the government also approved disinvestment of the two loss-making companies - Tyre Corporation of India Ltd (TCIL) as well as Central Inland Water Transport Corporation Ltd (CIWTC), Finance Minister Pranab Mukherjee told Rajya Sabha in a written reply. "The public offerings of NHPC Ltd and Oil India Ltd are likely to be completed in the current financial year. The public offering of RITES Ltd has been deferred for the present by the company due to change in capital requirements of the company," he said. The government decided to disinvest a small portion of the government's equity in these companies in conjunction with their public offerings, the Finance Minister added.

NHPC to hit the market next month

Mumbai:The state-run NHPC will come out with its initial public offering of shares to garner Rs 1,670 crore next month. NHPC's IPO will come in August; the company has already started the road shows for the same, Power Secretary H S Brahma told reporters. The public offer of the company will account for 10 per cent of its present equity, while the government will divest a stake of five per cent of the 100 per cent it currently holds. Through this IPO, NHPC plans to issue fresh equity of Rs 1,670 crore and it plans to bring 167 crore shares of a face value of Rs 10 each, which would be offered at a premium to be decided through the book-building process.

The company had filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on August 6 last year but it was rejected by the SEBI as the company did not have the required strength of non-official directors on its board, which it now has.

The company has earmarked an investment of Rs 28,000 crore in the current XIth Five-Year Plan (2007-12) to become an over 10,000 MW company from 5,200 MW currently. The IPO proceeds will be partly utilised to finance the expansions.

NHPC awaiting for govt's nod for IPO

NHPC Ltd is all set to hit the capital market. The company is ready with its initial share sale plan and is waiting for the government's nod, said S. K. Garg, who is also the company's managing director, told reporters. NHPC has already secured the approval from the Securities and Exchange Board of India - valid until September - to launch its initial public offering.