A finance ministry official indicated that India’s largest power producer NTPC is to submit a draft red herring prospectus to the Security Exchange board of India on Monday for its follow-on public offer.

A fast track route is expected for the FPO’s speedy clearance as the plans are to make it reach the markets by first week of February. Under the fast track issue, the issue can go immediately to the public as an approval from SEBI is not required for such cases.

While retail investors are to get floor shares price the issue will be the first public issue to use an auction route for sale of shares to FIIs, financial institutions and high net worth individuals.

Finance minister also indicated that Rural Electrification Corporation (REC) and Satluj Jal Vitran Nigam Limited could also have their own issues this fiscal after the NTPC.

Mineral giant NDMC is also planning an issue this fiscal. REC issue will hit the market by 19-23 and NDMC by March 10-12 while the latter’s draft red herring prospectus is expected to be filed by January 25.

An expected amount of Rs 30,000 crore is expected to be raised by the issue of these four firms.