NTPC may price shares at premium in its IPO

National Thermal Power Corporation (NTPC) is likely to price its shares at a premium of Rs 20 per share over a face value of Rs 10 in its proposed initial public offer (IPO), slated to hit the market this November. NTPC officials said during the annual news conference that NTPC may raise up to Rs 1,500 crore from the capital market. ‘‘We are going to the cabinet with a proposal to enhance the equity base by five per cent of subscriber equity of Rs 8,000 crore,’’ they said. CMD C.P. Jain said the company has posted a marginal increase in its net profit at Rs 3,574 crore compared to Rs 3540 crore in the previous year. The turnover of the company has gone by over seven per cent to Rs 19,947 crore as against Rs 18,584 crore in the previous year. Jain said the issue advisers would be appointed in May and the lead managers by June, followed by filing of prospectus with SEBI.