NHPC files revised DRHP with Sebi

State-run NHPC Ltd will be the first public sector company for go for an IPO after the Left parties withdrawal of support to the UPA government as the power producer today filed a revised Draft Red Herring Prospectus with market regulator Sebi.     

"We have filed our revised Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India," a company official said.     

The power producer plans to hit the capital market next month. It plans to bring 167 crore shares at a face value of Rs 10 each. The shares would be offered at a premium to be decided through the book building process.     

The IPO would comprise sale of 10 per cent of fresh equity shares and 5 per cent disinvestment of government stake.     

NHPC, which accounts for 3.7 per cent of country's total power generation capacity, targets to raise at least Rs 1,670 crore through the public offer to part finance its expansion plans.     

The company, which aims to double power generation capacity from the present 5,200 MW by 2012, has outlined expansion plans worth Rs 28,000 crore.     

Last year, NHPC had filed DRHP but the Sebi rejected as the company did not have the required strength of non-official directors on board.