NHPC IPO likely to open on 7th August
State-owned NHPC, a hydroelectric power generating company, is expected to come out with its initial public offer (IPO) next month.
Under normal circumstances, the IPO is likely to hit market in the first week of August, tentatively 7th August. The public offer is expected to remain open for six days for subscription.
Earlier, the hydel power company has deferred its IPO two times, in a period of two years. First time in 2007, when the company had filed the Draft Red Herring Prospectus (DRHP), but market regulartor turned down it as the company did not have the required strength of independent directors on its board on that time.
While second time during last year in October, the company has planned initial public offer (IPO) of 167 crore equity shares, which the company called off later due to volatile market conditions.
NHPC Limited, a Mini Ratna (Category I) Central Government Public Sector Unit is dedicated to the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India.
The company plans to raise funds for its future expansions and part finance the construction and development costs of certain of identified projects.
Enam Financial Consultants, Kotak Mahindra Capital Company and SBI Capital Markets are the managers to the offer.