NTPC share sale may happen next yr: official

NTPC share sale may happen next yr: official

New Delhi: A proposed follow-on public share sale by Indian state-run power producer NTPC will not happen this year as the firm is currently flush with funds, the power secretary said on Tuesday. “That may happen next year, not this year," H S Brahma told reporters.

“They have surplus funds of over Rs200 crore ($4 billion)," he said.

In July the chairman of NTPC said India’s largest power producer would spend Rs170 crore during the fiscal year to March 2010 to add 3,300 megawatts (MW) of capacity to its March 2009 capacity of about 31,000 MW.

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