NTPC lines up Rs 7-8-cr promotional budget for public issue

NTPC lines up Rs 7-8-cr promotional budget for public issue

Author | exchange4media News Service | Tuesday, Sep 28,2004 8:00 AM

NTPC lines up Rs 7-8-cr promotional budget for public issue

National Thermal Power Corporation has lined up a budget of Rs 7-8 crore to promote its $ 1-billion public issue – the second largest of its kind in the country. Alongside advertising on print and electronic media and outdoors, the power major is emphasising more on roadshows hitting all major financial markets across the country and several global capital market nerve-centres.

Concept Advertising bagged the IPO mandate in a multi-agency pitch. The agency is in charge of the advertising and below-the-line promotions for the NTPC public offer. “Currently, on one hand, we are working on corporate and issue advertising for the offering and on the other, organising roadshows, press conference and brokers meet in all major financial locations in India,” Ravi Arora, Regional Director, Concept Delhi told exchange4media.

Refusing to dwell on the promotional plans, Chandan Roy, Director (Operations) of NTPC, said, “We want to come in a big way, considering the value of the issue. We are trying out all possible routes to ensure best response from the market.” Roy was addressing the Kolkata chapter of the roadshow on Monday.

The state-run power supplier has come up with 8.65 crore equity shares of Rs 10 each through 100 per cent book-building route. The issue is scheduled to open for subscription on October 7 and close on October 14. Fixed at a price band of Rs 52 to 62 per share, the public issue is expecting to mop up Rs 4,500 crore to Rs 5,200 crore. As Roy informed, the PSU is planning to enter coal mining and washing operations to ensure better fuel security, meeting its annual requirement of 95 million tonnes.

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