NHPC, IndianOil to hit market soon with public offers
New Delhi   17-Jul-2009
Initial public offers of state-owned enterprises, NHPC and IndianOil, to hit market soon. The IPO of state-owned NHPC to raise Rs 1,680 crore is likely to see light of the day on August 7. "If everything goes well the IPO is likely in the first week of August, tentatively Au-gust7,"NHPCchairmanand managing director SK Garg told re porters here. NHPC would infuse 10% fresh equity through this public offer to raise Rs 1,680 crore, while the government will divest its 5 % stake in the company It would come up with 168 crore shares of face value of Rs 10 each, which will be offered at a premium through book building process.