Thursday, January 14, 2010

NTPC FPO on February 03, 2010

Issuer:                       National Thermal Power Corporation Limited ("NTPC")

Listing:                      Bombay Stock Exchange ("BSE") and National Stock Exchange ("NSE")

Offering type:                Follow on public offering of common shares

Selling shareholder:          Offer for Sale by The President of India, acting through The Ministry of Power, Government of India

Offer Size:                   ~US$[2]bn

Type of shares / Number:      100% secondary. 412,273,220 shares

Employee Reservation:         4,273,220 shares

Net Offer:                    408,000,000 shares

Issue break—up:               QIB (50%), NIB (15%), Retail (35%)

Bidding process:              QIB: Price priority basis (auction); NIB, Retail: Floor price

Floor Price:                  To be announced 1 day prior to issue opening date

%  of post offer capital:     5%

Distribution:                 RegS, 144A


Business description

NTPC is India's largest power generation company. NTPC's owned and installed power generating capacity is ~19% of India's total installed capacity. In FY2009, NTPC contributed ~29% of the total power generation of India


Shares outstanding:           8,245,464,400 shares

Book-running Lead Managers:   JPMorgan, Citi, Kotak, ICICI Securities


Indicative timeline

Issue Open:             February 03, 2010

Issue Close:            February 05, 2010

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