FPO of either NTPC or REC likely in 2-months: Official

Last Updated: Wednesday, September 30, 2009 - 13:08

Mumbai: The Follow-on Public Offers
(FPOs) of either NTPC or Rural Electrification Corporation
(REC), are likely to be launched in the next couple of months,
a senior government official said.

Another FPO, that of NMDC, is also likely to be held
by end-this fiscal, the official said.
"I am quite hopeful that there will be four-five
issues this year, that of REC, NTPC, Satluj Jaal Vidyut Nigam
Ltd and NMDC. The toss-off for FPO is between REC and NTPC
which I am hopeful will be coming through during the next
couple of months," Ministry of Finance, Department of
Disinvestment, Joint Secretary, Sidhartha Pradhan, told
reporters in Mumbai on Wednesday.

Pradhan said the FPO will happen as soon as the
companies expedite the process of updating their accounts and
getting Sebi clearance.
The government is considering a policy decision on the
optimum utilisation of funds raised through the FPO, he said.

"A policy decision will be announced in the next
couple of weeks on how best to utilise the money. It is in the
offing and we have to wait for the Cabinet decision," Pradhan
said.

Bureau Report



First Published: Wednesday, September 30, 2009 - 13:08

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