Our Bureau

Kolkata, Oct. 11

NHPC Ltd has postponed its plans to go public due to turbulence in the capital markets.

While sources in Oil India Ltd and Adani Power claim to stick to their IPO plans in November, sources in investment banking fraternity feel that though some stability was expected to return in the global markets within next two weeks, it might be extremely difficult to price as well as place these big ticket issues.

It may be mentioned that the three issues together would have raised over Rs 10,000 crore. Of the three, Adani Power planned to mop up Rs 5,630 crore to finance its upcoming thermal power projects of 9,990 MW capacity. The company was planning the issue in mid- or end-November.

“The NHPC IPO plan is postponed due to market uncertainties,” the Union Minister of State for Power, Mr Jairam Ramesh, told Business Line. The issue of 167 crore shares of Rs 10 each at a premium also included five per cent divestment of stake by the Centre.

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