Govt fixes NHPC IPO price band

“We have got little increase (in price band) than what was in circulation,” Power Minister Sushilkumar Shinde told reporters here.

The price band of Rs 28-34 for a share of face value Rs 10 was in circulation.

The Empowered Group of Ministers headed by Finance Minister Pranab Mukherjee met here to decide on the price band for the Initial Public Offer (IPO), which will open on August 7.

NHPC will raise fresh equity worth Rs 1,680 crore while the government would offload 5 per cent of its shareholding in the power PSU.

The government would get Rs 840 crore from sale of its equity plus premium.

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