Monday, August 3, 2009

NHPC IPO to hit market on August 7

Central government enterprise, National Hydroelectric Power Corporation (NHPC) will raise Rs 6,000 crore from the Initial Public Offer (IPO), which will hit the market on August 7.

"Rs 4,000 crore will be used to finance the under construction projects of the company while Rs 2,000 will be given to the government of India," NHPC Director (project) JK Sharma told reporters here.

For its IPO, NHPC has fixed the price band between Rs 30-36 per equity share.

On the ongoing projects, Sharma said that 11 projects of 4,622 MW capacity are currently under construction at various stages.

"The company is awaiting government's nod for five more projects with a capacity of 4,565 MW and certain joint venture projects having capacity of 2,166 MW," he said.

"Our current installed capacity is 5,175 MW and by 2013 end, our total installed capacity will be 10,000 MW," Sharma said, adding, most of the under construction projects are going to be commissioned on schedule.

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