The Hindu : Business : NHPC’s IPO opens today

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Friday, Aug 07, 2009
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NHPC’s IPO opens today

Corporate Reporter

CHENNAI: The initial public offer of NHPC, a mini-ratna category-I public sector undertaking and hydroelectric power generating company, will open for subscription on August 7 and close on August 12. The price band has been fixed between Rs. 30 and Rs. 36 per share. The issue comprises a fresh issue of 111.82 crore equity shares and an offer for sale of 55.91 crore equity shares by the Central government. The issue is to part finance the construction and development costs of Subansiri Lower, Uri-II, Chamera-III,Parbati-III, Nimoo Bazgo, Chutak and Teesta Low Dam-IV.

Out of Rs. 6,000 crore to be mobilised from the issue, Rs. 4,000 crore would be utilised to finance the under- construction projects of the company while Rs. 2,000 crore would be given to the Central Government, he said.

The company is at present constructing of 11 additional hydroelectric projects, which are expected to increase the total installed capacity by 4,622 MW. It is awaiting government nod for five projects with an anticipated capacity of 4,565 MW.

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