NHPC will wait for opportune time for floating IPO

State-run National Hydro-electric Power Corporation is monitoring the market situation watchfully and is waiting for an opportune time for floating its initial public offer (IPO). Reacting to the news earlier surfaced about canceling the public offer, the management has contended that there was no plan of canceling IPO but it was considering deferring till a suitable time is reached.

The company has planned to raise Rs1,680 crore by issuing a record 168 crore shares of a face value of Rs 10 each. Owing to financial requirements to feed the ongoing 11 projects with a capacity of 4,622 MW, the company has been ogling for suitable market situations to raise funds.