State-run hydro power producer NHPC today said it would come out with its initial public offer only after the market conditions improve.
"IPO is on hold till market conditions stabilise," NHPC Chairman and Managing Director S K Garg told reporters here.
Asked if the global slowdown has affected the company's expansion projects, he said, "Our capex has not been affected by the slowdown."
NHPC, which accounts for over 3 per cent of the country's power generation capacity, targets to double its output by 2012 and has planned a capital expenditure of Rs 28,000 crore during the 11th Five-Year Plan (2007-12).
The company had proposed to come out with a public issue in October last year to partially fund expansion programmes, but it was forced to shelve plans due to volatile market conditions.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app