Business Daily from THE HINDU group of publications
Thursday, Jun 18, 2009
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Business Daily from THE HINDU group of publications Thursday, Jun 18, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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IPOs Industry & Economy - PSU NHPC public float in 2-3 months New Delhi, June 16 The Union Power Minister, Mr Sushilkumar Shinde, on Tuesday said NHPC Ltd will float its initial public offering in 2-3 months. It has time till September 17 to come out with its IPO without seeking a fresh approval from the Securities and Exchange Board of India. “NHPC will come out with the IPO in 2-3 months,” Mr Shinde said after a pre-budget meeting with the Finance Minister, Mr Pranab Mukherjee. The hydropower company had put off its IPO in September last year due to weak market conditions. The Government will also sell five per cent stake in the company alongside the proposed IPO. Mr Shinde said the Government will invite bids for two more 4,000 MW ultra mega power projects, one each in Tamil Nadu and Orissa, in the next two to three months. Power Finance Corporation, the nodal agency for overseeing the execution of the ultra mega power projects, has so far awarded four of these projects to private developers. — Our Bureau More Stories on : IPOs | PSU | Power
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