National Hydroelectric Power Corporation (NHPC) has filed its Draft Red Herring Prospectus with SEBI for entering the capital market with an IPO through the book-building route. The board of state-owned hydropower generator approved the proposed Initial Public Offering (IPO) of the company on Tuesday, to raise funds for its future expansions and part finance the construction and development costs of certain of identified projects. The Public Issue of 1,67,73,74,015 equity shares comprises a fresh issue of 1,11,82,49,343 equity shares by NHPC Ltd and an offer for sale of 55,91,24,672 equity shares by the President of India acting through the Ministry of Power, Government of India.
The company, formerly known as National Hydroelectric Power Corporation Limited, has appointed SBI Capital Markets Limited, Kotak Mahindra Capital Company Limited and Enam Securities Private Limited as the lead managers for the public issue.
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