NTPC expects to attract Rs 60b from global investors
Monday, 25 January 2010
NEW DELHI, Jan 24 (PTI): In a remarkable response from international roadshow, state-run NTPC today said it is hoping a subscription of up to Rs 60 billion from the global investors to its follow-on public offer 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 per cent of qualified institutional buyers (QIBs) quota to come from these investors ranging between Rs 50-60 billion," NTPC Chairman and Managing Director RS Sharma told reporters from New York.
NTPC is offering five per cent of its equity as part of government's disinvestment programme and going by the claims of the company, the government may garner over Rs 120 billion 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 February 3.
"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 per cent of qualified institutional buyers (QIBs) quota to come from these investors ranging between Rs 50-60 billion," NTPC Chairman and Managing Director RS Sharma told reporters from New York.
NTPC is offering five per cent of its equity as part of government's disinvestment programme and going by the claims of the company, the government may garner over Rs 120 billion 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 February 3.