Financial Daily from THE HINDU group of publications
Friday, Sep 26, 2003
Financial Daily from THE HINDU group of publications Friday, Sep 26, 2003 |
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Markets
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IPOs Industry & Economy - Power NTPC issue may hit market by March Our Bureau
New Delhi , Sept. 25 NATIONAL Thermal Power Corporation's (NTPC) proposed initial public offering of Rs 400 crore is slated to hit the domestic market by March next. "We will be in the market by March 2004," the NTPC Chairman and Managing Director, Mr C.P. Jain, told presspersons here today. The Power Ministry has circulated a Cabinet note for NTPC's IPO, amounting to 5 per cent of its equity, to the various other Ministries for their comments, sources said. NTPC's domestic issue would be followed by an overseas issue for enhancing the equity by another 5 per cent. The company has recorded a turnover of Rs 19,984.58 crore and a net profit after tax of Rs 3607.57 crore during 2002-03. For the corresponding period last year, the company recorded a turnover of Rs 18,594.18 crore and a net profit of Rs 3539.62 crore. This translates into a 7.4 per cent rise in turnover and a 1.9 per cent rise in net profits.
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