Large investors show interest in NTPC FPO
New Delhi: India`s largest power producer NTPC has said that the world`s leading financial investors, including US-based Janus Capital and Capital Group, have shown interest in subscribing to its shares to be issued through the Follow-on Public Offer route.
A team led by NTPC Chairman and Managing Director R S Sharma is holding global roadshows seeking global investors` participation in the FPO opening on February 3 that would see the government offloading five per cent stake. The FPO is likely to help raise over Rs 8,000 crore.
"It is extremely important that big funds take part in this issue... they are interested in investing in power stocks in India," Sharma told over phone from London, one of the cities chosen for the global roadshows.
Large funds like Capital Group Fund and Janus Capital have been typically investing in power stocks. Headquartered in Denver, Janus Capital is a US-based fund having over $132 billion assets under its management, he said. It also has holdings in other power utilities in India.
Capital World, based in Los Angeles, is another large investment fund based in US and having over USD one trillion in assets under management, Sharma said, adding they have met them too for their participation in the forthcoming FPO.
"The American funds managed by Capital Group companies represent the largest family of mutual funds in the US followed by the Vanguard and Fidelity Investments, with roughly USD 1.3 trillion in assets under management," he added.