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NTPC FPO, NHPC IPO only when markets stabilize

NTPC FPO, NHPC IPO only when markets stabilize
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First Published: Wed, Oct 22 2008. 05 39 AM IST
Updated: Wed, Oct 22 2008. 03 51 PM IST
PTI
New Delhi: Government today said the public offer for sale of shares in state-run power firms NTPC and NHPC will come as and when market conditions are appropriate.
“NTPC’s Follow-on Public Offer and NHPC’s Initial Public Offer will come when the market conditions are conducive,” Power Secretary Anil Razdan told reporters here.
NHPC had earlier scheduled the launch of the offer between 13 and 17 October to raise nearly Rs1,670 crore worth fresh equity, besides premium.
Last year, the company had to shelve its initial plans as the requisite number of independent directors were not on the Board and now due to the choppy market conditions.
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First Published: Wed, Oct 22 2008. 05 39 AM IST