Indian IPO

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Thursday, October 11, 2007

FM says decks cleared for NHPC IPO

Finance Minister, P Chidambaram said that the decks cleared for Public sector National Hydro – Electric Power Corporation (NHPC) IPO.

The company, wholly-owned by the government, had filed DRHP with the capital markets regulator SEBI in April 2007. The IPO was proposed to include over 111 crore fresh equity shares and offer for sale of more than 55 crore shares.

The government had approved the planned IPO in December 2006. The company proposes to add a capacity of 5,300 MW in the 11th five year plan.

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