<p>"The company raised Rs 6,037 crore by offloading 10 per cent equity shares to the public," NHPC Ltd Director Finance A B L Srivastava told reporters here after the listing ceremony.<br /><br />"Of this, we will use Rs 4,000 crore for project operations and the remaining will go to the government (for divestment of its stake)," he added.<br /><br />Within minutes the scrip surged 10.42 per cent to a high of Rs 39.75 on the BSE. About 168 crore shares, which included five per cent government stake and fresh equity of 10 per cent changed hands on the bourses.<br /><br />On the National Stock Exchange, the NHPC listed with 17 per cent gain at Rs 42.<br />Enthused by the response, company chairman and managing Director S K Garg said, the first leading public sector unit after the UPA's second consecutive win, was subscribed 23.73 times.<br /><br />The IPO proceeds would be used to part finance construction and development of projects like Subansiri Lower, Uri-II, Chamera-III and Parbati-III.<br /><br />"We have planned to generate almost 17,200 million units in 2009-10. One project in Jammu and Kashmir of 120 MW is going to be commissioned in the month of December-January this year," Garg said. <br /><br />NHPC has an installed capacity of 4,815 MW, and is working on 11 projects that would see it add total 4,622 MW to its existing capacity.<br /><br />The company's power stations and hydro power projects are predominantly located in the North and North-East of India, Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Arunachal Pradesh, Assam, Manipur, Sikkim and West Bengal.<br /><br />Another five projects estimated to add a total capacity of 4,565 MW are under its belt, for which it is yet to receive government approval. The had a net profit of Rs 1,075 crore in FY09, Garg said, adding NHPC "will perform better in 2009-10 than last year, both in terms of revenue and net profit".</p>
<p>"The company raised Rs 6,037 crore by offloading 10 per cent equity shares to the public," NHPC Ltd Director Finance A B L Srivastava told reporters here after the listing ceremony.<br /><br />"Of this, we will use Rs 4,000 crore for project operations and the remaining will go to the government (for divestment of its stake)," he added.<br /><br />Within minutes the scrip surged 10.42 per cent to a high of Rs 39.75 on the BSE. About 168 crore shares, which included five per cent government stake and fresh equity of 10 per cent changed hands on the bourses.<br /><br />On the National Stock Exchange, the NHPC listed with 17 per cent gain at Rs 42.<br />Enthused by the response, company chairman and managing Director S K Garg said, the first leading public sector unit after the UPA's second consecutive win, was subscribed 23.73 times.<br /><br />The IPO proceeds would be used to part finance construction and development of projects like Subansiri Lower, Uri-II, Chamera-III and Parbati-III.<br /><br />"We have planned to generate almost 17,200 million units in 2009-10. One project in Jammu and Kashmir of 120 MW is going to be commissioned in the month of December-January this year," Garg said. <br /><br />NHPC has an installed capacity of 4,815 MW, and is working on 11 projects that would see it add total 4,622 MW to its existing capacity.<br /><br />The company's power stations and hydro power projects are predominantly located in the North and North-East of India, Jammu and Kashmir, Himachal Pradesh, Uttarakhand, Arunachal Pradesh, Assam, Manipur, Sikkim and West Bengal.<br /><br />Another five projects estimated to add a total capacity of 4,565 MW are under its belt, for which it is yet to receive government approval. The had a net profit of Rs 1,075 crore in FY09, Garg said, adding NHPC "will perform better in 2009-10 than last year, both in terms of revenue and net profit".</p>
