|
| NHPC may debut with 10% prem on bourses tomorrow: analysts |
| Press Trust of India / New Delhi Aug 31, 2009, 18:13 IST |
|
State-run Hydro power generator NHPC, which got an enthusiastic respose to its Rs 6,000-crore public offer, may gain up to 12 per cent on its debut on the bourses tomorrow, analysts said.
"As NHPC is into hydro-electric power, deficient monsoon could dampen its prospect in debut trade. The scrip would see a flat listing or a maximum of 10-12 per cent upside gains," Ashika Stock Brokers Research Head Paras Bothra said.
The issue price has been fixed at Rs 36 and company would list over 1,230.07 crore shares on the bourses.
"This is a big issue and the market is looking forward to it... The scrip is likely to be listed at a premium of 10-12 per cent over the issue price in the current market conditions," Unicon Financial Chief Executive G Nagpal said.
Echoing similar views, SMC Global Vice-President Rajesh Jain said the movement of the scrip price would also depend on the broader performance.
"If the market is on the weaker side or the Dow Jones Industrial Average and Nasdaq end in negative, we can see a listing around 12 per cent over the issue price," he said.
NHPC's offering of nearly 168 crore shares earlier this month got subscribed over 24 times receiving bids for over 3,981 crore shares, helping the power producer to raise Rs 6,000 crore through the IPO. It marks the second biggest public offering in the country's history after Reliance Power.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
