NHPC lists at 8 pc premium on BSE

“The company raised Rs 6,037 crore by offloading 10 per cent equity shares to the public,” said NHPC Ltd Director Finance A B L Srivastava after the listing ceremony.
“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. 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. On the National Stock Exchange, the NHPC listed with 17 per cent gain at Rs 42.

Capex plan

NHPC has also drawn up an ambitious Rs 30,000-crore capex plan for the 12th Five Year Plan to set up 14,000 MW of hydro-power projects. “For the 12th Plan (from 2012-2017), we have kept a capex of almost Rs 30,000 crore,” said NHPC Chairman and Managing Director S K Garg. The power utility has earmarked a capex of Rs 4,600 crore for the current fiscal, of which Rs 2,000 crore has already been expended.

The miniratna has lined up 16 projects with a total capacity of 14,000 MW in Uttarakhand, Arunachal Pradesh and Jammu and Kashmir for the next plan period, said Garg.
While the company intends to borrow 70 per cent of the capital required, the remaining would be raised via equity. “We will need Rs 9,000 crore as equity and the remaining Rs 21,000 crore will be debt funding,” he said.