Financial Daily from THE HINDU group of publications
Tuesday, Jun 22, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jun 22, 2004 |
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Power Markets - IPOs NTPC files draft prospectus for IPO Our Bureau
New Delhi , June 21 NATIONAL Thermal Power Corporation (NTPC), a wholly Government-owned company, today filed the draft prospectus with the Securities and Exchange Board of India (SEBI) for enhancing its equity by 5.25 per cent through an initial public offer (IPO). As part of the IPO, NTPC would issue 43.29 crore shares having a face value of Rs 10 each, according to officials. Of the proposed 5.25 per cent equity, 0.25 per cent, comprising 2 crore shares , would be offered to the NTPC employees. Post-IPO, the Government's stake in NTPC would come down to 94.75 per cent. NTPC has mandated three merchant bankers, including Kotak Mahindra and ICICI Securities, to act as lead managers for its IPO. Enam Financials has been appointed as the third joint lead manager-cum-book runner. NTPC has an equity base of Rs 8,000 crore and five per cent of the equity, to be issued in the market, comprising the total face value of Rs 400 crore. Over the next three weeks, SEBI would be scrutinising the prospectus. If all goes well, NTPC would be able to file a red herring prospectus.
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