NHPC IPO price fixed at higher end of the band: Report

The initial public offer (IPO) of the state-run NHPC is believed to be priced at the higher end of the band i.e. Rs 36 per share, as mentioned in a media report.

This will result in company ending up raising Rs 6,048 crore, out of which around one-third will be paid to the central government as proceeds of divestment while the balance amount will be kept by the company for its growth purposes.

The shares of the company are likely to go live on the secondary market in the first week of September.

The issue, which closed on August 12, 2009, received bids for 3,979 crore shares against the 168 crore shares on offer.

NHPC is mulling investment of Rs 28,000 crore by 2012 to set itself as over 10,000 MW utility power producer, as against current capacity of 5,200 MW.