The finance ministry is working on plans to chalk out a foreign road show calendar that aimed at attracting institutional investors to initial public offerings (IPO) and proposed follow-on public offerings (FPOs) of state-run firms- Oil India (OIL) and NHPC. The road show for OIL, led by inter ministerial group is expected to start in August, followed by NHPC.
OIL is planning an IPO of Rs 1,300-crore while NHPC plans to raise an estimated Rs 2,500 crore. The government also wants to offload a stake of 10% in OIL while 5% in NHPC.
Both NHPC as well as OIL are expected to be listed before end of September, before the lapse of the regulatory approvals by Sebi. The government holds a 98.13% stake in OIL while NHPC is a 100% state-owned company.
The lead managers for OIL IPO are HSBC as well as Citigroup and Morgan Stanley while for NHPC it has SBI Capital Markets, Kotak Mahindra Capital Company and Enam Securities Private as its lead managers.
The team for road shows will include board members, representatives from respective administrative ministries, and finance ministry officials. The government is expected to tap foreign investors for many of the upcoming IPOs and FPOs.
OIL is planning an IPO of Rs 1,300-crore while NHPC plans to raise an estimated Rs 2,500 crore. The government also wants to offload a stake of 10% in OIL while 5% in NHPC.
Both NHPC as well as OIL are expected to be listed before end of September, before the lapse of the regulatory approvals by Sebi. The government holds a 98.13% stake in OIL while NHPC is a 100% state-owned company.
The lead managers for OIL IPO are HSBC as well as Citigroup and Morgan Stanley while for NHPC it has SBI Capital Markets, Kotak Mahindra Capital Company and Enam Securities Private as its lead managers.
The team for road shows will include board members, representatives from respective administrative ministries, and finance ministry officials. The government is expected to tap foreign investors for many of the upcoming IPOs and FPOs.
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