NHPC Ltd plans with its IPO only after market stabilises..
- NHPC Ltd has said it plans to come out with its initial public offering only when market conditions improve. “The (proposed) IPO is on hold till market conditions stabilise,” its NHPC Chairman and Managing Director, Mr S.K. Garg, said.
- The company had earlier proposed to come out with a public issue in October last year for part-financing its expansion programmes, which it was forced to shelve subsequently due to volatile market conditions.
- The company has already tied-up debt of about Rs 4,000 crore with state-run Power Finance Corporation and nearly Rs 6,500 crore with Life Insurance Corporation for funding its power projects during the current plan period (2007-12).
- NHPC hopes to double its installed capacity by 2012 and has planned a capital expenditure of Rs 28,000 crore for the Eleventh Plan.
- “We plan to commission one of the Teesta hydro-electric projects of 132 MW by December this year and also 120 MW Sewa-II project in Jammu & Kashmir
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Yes They are right in their decision.
They should come out with an IPO when markets stabilize.