Date : Aug-17-2009
Raising Rs 6,048 crore, government has fixed a price of Rs 36 a share for the allotment of shares in the initial public offer of NHPC out of which one-third would go to the Centre as disinvestment proceeds and the rest would remain with the hydro power utility PSU. The NHPC IPO however, closed on August 12 with a huge over-subscription of more than 23 times. Additionally, the shares on sale during the offer included the government's 5% equity and 10% of fresh equity issued by the PSU.
Moreover, it is said that the government would get Rs 2,016 crore while NHPC would retain the remaining Rs 4,032 crore whereas post IPO the government's stake would come down to little over 86% in the power PSU. However, it is said that NHPC would use the IPO proceeds to part fund its ongoing investments in 11 projects and 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. In addition, along with the Madhya Pradesh government, NHPC would implement a 1,000 MW thermal power plant at Khandwa in that state.
Raising Rs 6,048 crore, government has fixed a price of Rs 36 a share for the allotment of shares in the initial public offer of NHPC out of which one-third would go to the Centre as disinvestment proceeds and the rest would remain with the hydro power utility PSU. The NHPC IPO however, closed on August 12 with a huge over-subscription of more than 23 times. Additionally, the shares on sale during the offer included the government's 5% equity and 10% of fresh equity issued by the PSU.
Moreover, it is said that the government would get Rs 2,016 crore while NHPC would retain the remaining Rs 4,032 crore whereas post IPO the government's stake would come down to little over 86% in the power PSU. However, it is said that NHPC would use the IPO proceeds to part fund its ongoing investments in 11 projects and 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. In addition, along with the Madhya Pradesh government, NHPC would implement a 1,000 MW thermal power plant at Khandwa in that state.
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