NHPC To Hit The Public Markets Around Diwali

The much-awaited initial public offering of shares by state-run NHPC, formerly known as National Hydro Power Corporation, will hit the markets around Diwali this year. The public offering will come at the end of October this year in which the company would issue 168 crore

shares. NHPC would issue shares at a face value of Rs 10, comprising 10% fresh shares and 5% shares to be divested by the government.

Kotak Mahindra Bank and SBI Capital Markets have been appointed as managers for the IPO. NHPC plans to raise about Rs 11,000 crore from the issue and raise another Rs 17,000 crore through debt financing to fund its upcoming projects.