NTPC, which is coming out with a further public offer of 41.23 crore equity shares of Rs. 10 each, has fixed the floor price at Rs. 201 per share. The issue, which is through an offer for sale by the President of India, acting through the Ministry of Power, is open for subscription from February 3 to 5.
Addressing presspersons here on Tuesday, R. C. Srivastav, Director (HR), said, up to 50 per cent of the net offer would be available for allocation on a price priority basis to qualified institutional buyers (QIBs). After allocating shares for the highest bidder above the issue price, the allocation would be made to other bidders in the order of price priority. On the company’s plans for augmenting power capacity through projects, Mr. Srivastav said the aim was to reach 75,000 MW of capacity by 2017. To achieve this it had adopted a multi-pronged strategy which included capacity addition through greenfield projects, brownfield expansions, joint ventures and acquisitions. As on March 31, 2009, the installed capacity including the company’s joint ventures was 30,644 MW contributing 28.6 per cent of the country’s total electricity generation. The company was executing projects for 17,930 MW. The capital expenditure budget for fiscal 2010 is estimated at Rs. 17,700 crore and including the expenditure of group companies the total would be Rs. 24,500 crore.
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According to Ambarish N. Dave, Regional Executive Director (South), the projects under construction in the Southern Region included Simhadri-II with a capacity for 1000 MW in Andhra Pradesh and a joint venture project with Tamil Nadu Electricity Board in Vallur in Thiruvallur district (Tamil Nadu) with a capacity of 1,500 MW.
QIBs will be allotted shares on a price priority basis