Processing .....please wait.. 
The article has been forwarded.... 
NTPC plans public offer by August
Tuesday, 06 April 2004, 19:30 IST
NEW DELHI: India's state-owned National Thermal Power Corporation (NTPC) is likely to come out with its public offer by August to raise its capital base by about five percent.
"We hope to come out with an initial public offer (IPO) for sale of five percent of our equity by early August," Chairman and Managing Director C.P. Jain told journalists Monday.
The company, with an authorised share capital of 
100 billion and paid up capital base of 78.13 billion, has already received cabinet approval for the IPO.
Jain said that merchant bankers and lead managers to the issue will be appointed by April.
With 19.24 percent share in the total installed capacity in the country, NTPC contributed 26.7 percent of the power generated in the country during 2003-04. The total installed generation capacity of NTPC is 21,749 MW inclusive of 314 MW in joint venture with Steel Authority of India Ltd (SAIL).
The company has set an ambitious target to become a 56,000 MW utility by 2017, with the addition of 9,370 MW by 2007 and 11,558 MW more by 2012 through various projects.
Currently, construction activity for adding 7,010 MW generation capacity is in various stages of progress, Jain said.
During 2003-04, the company that has also ventured into hydropower generation, recorded a net profit of 49.05 billion, a 36 percent rise compared to 36.08 billion in the previous fiscal, according to provisional estimates.
The IPO plans are part of NTPC's strategy to meet capital expenditure for projects being undertaken.
Source: IANS
100 billion and paid up capital base of 78.13 billion, has already received cabinet approval for the IPO.
Jain said that merchant bankers and lead managers to the issue will be appointed by April.
With 19.24 percent share in the total installed capacity in the country, NTPC contributed 26.7 percent of the power generated in the country during 2003-04. The total installed generation capacity of NTPC is 21,749 MW inclusive of 314 MW in joint venture with Steel Authority of India Ltd (SAIL).
The company has set an ambitious target to become a 56,000 MW utility by 2017, with the addition of 9,370 MW by 2007 and 11,558 MW more by 2012 through various projects.
Currently, construction activity for adding 7,010 MW generation capacity is in various stages of progress, Jain said.
During 2003-04, the company that has also ventured into hydropower generation, recorded a net profit of 49.05 billion, a 36 percent rise compared to 36.08 billion in the previous fiscal, according to provisional estimates.
The IPO plans are part of NTPC's strategy to meet capital expenditure for projects being undertaken.
Source: IANS