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Friday, July 17, 2009

NHPC IPO On August 7

The state-owned PSU, NHPC IPO (initial public offering) will open for subscription on August 7 and close on August 12. The company is going to raise over Rs 2,500 crore via IPO.

As per the DRHP filed on August 5, 2008, the company is coming out with a public issue of 1,67,73,74,015 shares of Rs 10 each. The issue comprises a fresh issue of 1,11,82,49,343 equity shares by NHPC and an offer for sale of 55,91,24,672 equity shares by the president of india acting through the ministry of power, government of India.

The issue comprises a net issue to the public of up to 1,63,54,39,665 equity shares and a reservation of up to 4,19,34,350 equity shares for subscription by eligible employees. The issue shall constitute 13.64% of the post-issue capital of NHPC.

The company is into hydroelectric power generation. It has developed and constructed 13 hydroelectric power stations and its total installed capacity was 5,175 MW. The money raised from the issue would be utilised for its power projects. The shares issued via IPO are proposed to be listed on the BSE and NSE.

The book running lead managers to the issue are Enam Securities Private Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited, and the registrar is Karvy Computershare Private Limited.

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