 NHPC slips after listing at Rs 42 on the NSEPublished on Tue, Sep 01, 2009 at 09:56 | Source : Moneycontrol.com Updated at Tue, Sep 01, 2009 at 10:16 40171 Investors following NHPC. Share this News with them.
NHPC , India's largest hydro power generator, listed at Rs 42 on the NSE, a premium of 16.67% to its issue price of Rs 36 a share. However, the share slipped and was trading at Rs 38 at a premium of 5.57% to its issue price. The share touched an intraday high of Rs 42 and an intraday low of Rs 37 in the early trade. The total traded quantity was 23,04,610 shares and turnover was at Rs 870.91 lakh. The initial public offering (IPO) was of 1,67,73,74,015 equity shares of Rs 10 each with a price band of Rs 30-36 per equity share. The issue was subscribed 23.74 times. The company has garnered Rs 6,038.55 crore from the issue; out of which, the government received Rs 2,012.85 crore and that will be used for infrastructure projects. The rest of the amount i.e. Rs 4,025.7 crore, the company will use for its power projects. The proceeds of the fresh issue (after deducting the proportionate underwriting and issue management fees, selling commissions and other expenses associated with the fresh issue) will be used to part finance the construction and development costs of certain of projects, namely, Subansiri Lower, Uri - II, Chamera - III, Parbati - III, Nimoo Bazgo, Chutak, and Teesta Low Dam - IV.
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