Financial Daily from THE HINDU group of publications
Wednesday, Jul 03, 2002

Port Info

Group Sites

Industry & Economy - Power

NTPC to tap global equity markets

Archana Chaudhary

MUMBAI, July 2

THE National Thermal Power Corporation (NTPC) is expected to go in for an international equity float in the next 12 months.

The corporation planned to raise close to Rs 13,000 crore through equity issues in the international and domestic markets, said a senior NTPC official. The domestic issue is expected in the next six months.

"NTPC will make a formal proposal to the Union Government for permission to approach international markets to raise funds very soon," the official said. Discussions with merchant bankers for advice on the issue are expected to begin next month. The corporation, which has so far raised money through fixed deposits, will have to raise equity to meet its capacity addition targets for the Tenth Plan. The company plans to add more than 10,000 MW to its existing capacity of 20,092 MW in the coming five years.

"The Union Government had made it clear that it could not provide any budgetary support to NTPC for its capacity addition plans. So raising money through an equity or ADR/GDR issue is on the anvil," Mr R.V. Shahi, Union Power Secretary, told Business Line.

Send this article to Friends by E-Mail

Stories in this Section
Dumping duty on BOPP film imports mooted

ACC production, despatches up
Bengal Club moves HC
Kalam outlines 6-point agenda for nine pc GDP growth rate
Kerala: Greater role awaits return emigrants
Goa's annual Plan pegged at Rs 586 cr
Karnataka Minister promises to check sea erosion at Ullal in 2 years
Help sought for health services under GATS
Study urges revamp of Kochi drain system
Victims of animal trials?
NTPC to tap global equity markets
Kerala Govt mulls tenders for 14 mini-hydels
NTC to supply cloth to TN police
BWSSB revises water tariff
Pact to bring accreditation for business schools
Hyundai June sales up13.4%
HM-Mitsubishi tops J.D. Power honours
Soccer works magic for colour TV sales
Rallies planned against FACT privatisation
Big names in PF defaulters' list
We can excel China in FDI, says Maran
Furniture expo begins tomorrow
Cos sceptical over success of bulk filing of returns scheme
Gupta appointed D-G (Specific Safeguards)
H.L. Bajaj is new CEA chief

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | Home |

Copyright 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line