Govt hints NHPC IPO price to be higher than market speculation

The government has mooted the price band of the much-awaited IPO of National Hydro Power Corporation (NHPC) a little above than what was being speculated in the market, which is likely to open on August 7.

As against the circulation of price band of Rs 28-34 for a share of face value Rs 10, the Empowered Group of Ministers (EGoM) under the Finance Minister Pranab Mukherjee has hinted to fix the price a little above than market speculation.

NHPC aims to raise equity worth Rs 1,680 crore as the government is to offload  5% of its shareholding in the power PSU.

From equity share premium receivable, the government would fetch Rs 840 crore.