NHPC Limited ( National Hydroelectric Power Corporation Ltd) is coming out with a really mega size IPO. The objective of the issue is to raise capital , finance the projects and get its shares listed on the stock exchanges.
Details of the issue:
IPO is open from August 7 to August 12, 2009. The issue size is of 167 crore shares of face value Rs.10/- each in the price band of Rs.30-Rs.36.
Market lot of 175 shares and minimum bid is of 175 shares. The maximum number of shares one can apply under retail category is 2625 shares at the higher band of Rs.36. Listing of the shares is to be done at NSE and BSE.
India is a power shortage country and any issue from the power sector is likely to be grabbed up and is expected to do well. Though the issue could have been priced lower, it is a reasonable good issue. Investors can go ahead and invest in this issue.