NTPC scrips open at a premium
By Our Corporate Bureau | 05 Nov 2004
Chennai:
As expected the Rs10 face value National Thermal Power
Corporation Limited''s scrip opened at the bourses for
trade at a premium to the issue price. At the National
Stock Exchange (NSE) the scrip opened at Rs88 before coming
down to Rs70.
The 86,58, 30,000-share public issue made through book building process was priced in the band Rs52-62 and was over subscribed by 12 times.
According to Shanti Ekambaram, director, Kotak Mahindra Capital Company and head — Corporate Banking, Kotak Mahindra Bank, the issue price was fixed after looking at companies similar to NTPC in the Asian region. "In India there is no other company with operations similar to NTPC," she said.