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NTPC hopes to attract up to Rs6k cr from global investors

NTPC hopes to attract up to Rs6k cr from global investors
PTI
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First Published: Sun, Jan 24 2010. 01 43 PM IST
Updated: Sun, Jan 24 2010. 01 43 PM IST
New Delhi: In a remarkable response from international roadshow, state-run NTPC on Sunday said it is hoping a subscription of up to Rs6,000 crore from the global investors to its follow-on public offer (FPO) next month.
“We met 38 global investors during the week-long global roadshow. It is sort of a record and we are overwhelmed by their response. We are expecting 50% of qualified institutional buyers (QIBs) quota to come from these investors ranging between Rs5,000-6,000 crore,” NTPC chairman and managing director RS Sharma told PTI from New York.
NTPC is offering 5% of its equity as part of government’s disinvestment programme and going by the claims of the company, the government may garner over Rs12,000 crore from the stake sale.
The QIB portion consists of 204 million shares, Sharma said, adding that most of the people they met are long-term investors and they are interested in sustainable growth of the company.
NTPC will hit the capital market with FPO on 3 February. Power major is coming out with over 41 crore (41,22,73,220) equity shares of Rs10 each at prices to be determined through an alternative book building process. The issue closes on 5 February.
Asked to name some of the investors, Sharma declined to reveal, but sources said that some of the leading financial investors, including US-based Janus Capital and Capital Group have shown keen interest in subscribing to its shares in the forthcoming public offering.
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First Published: Sun, Jan 24 2010. 01 43 PM IST
More Topics: NTPC | Disinvestment | Investor | Power | FPO |