NHPC IPO likely to raise Rs 1,850 crore amid government's plan to go above its 2009-10 disinvestment target of Rs 1,120 crore. The centre has selected NHPC as the first company to go to the market this year.
According to the sources, the government may raise between Rs 1,550 crore and Rs 1,850 crore by divesting 4.5 per cent (of the expanded equity) because it was considering a quite aggressive price band of Rs 28 to Rs 33 per share. A final decision for the purpose will be taken in the meeting of the Empowered Group of Ministers (EGoM) on July 24, government sources added.
The EGoM, headed by Finance Minister Pranab Mukherjee, includes Deputy Chairman of the Planning Commission Montek Singh Ahluwalia and representatives from the administrative ministry concerned.
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