NBCC IPO opens on 22nd March

The price band of the issue has been fixed in the range of Rs90 to Rs106

Construction Company NBCC on Tuesday said its initial public offer will open for subscription on Thursday and close on 27th March.

The price band of the issue has been fixed in the range of Rs90 to Rs106, NBCC said in a public announcement.

"Government will dilute 10% (stake)... Rs120 crore to be raised by NBCC initial public offer (IPO)," urban development minister Kamal Nath had said yesterday after an Empowered Group of Ministers (EGoM) decided on the issue.
Mr Nath had said the listing would happen in April.

As per the red herring prospectus of NBCC filed with the SEBI, the construction major has proposed to offer 1.2 crore equity shares of face value of Rs10 each.
NBCC provides project management consultancy (PMC) services for construction projects, civil infrastructure for power sector and real estate development.

Credit rating agency CARE has assigned 'IPO Grade 4' to the proposed NBCC IPO, indicating above average fundamentals.

IDBI Capital and Enam are the book running lead managers to the IPO.
The government had set an ambitious target to mop-up Rs40,000 crore from disinvestment of public sector units this fiscal. However, due to volatile market conditions, only about Rs14,000 crore has been realised so far.

The government plans to sell equity in blue-chip companies like SAIL, MMTC, Neyveli Lignite, Nalco and Oil India, to mop up Rs30,000 crore in the next fiscal.

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Nalco to invest Rs2,300 crore on expansion in FY13

The Odisha-based Nalco plans to invest Rs57,903 crore by 2020 mainly for setting up two aluminium smelters.

State-owned aluminium firm Nalco plans to invest Rs2,343 crore next fiscal, a 76% rise in capital expenditure over FY12, to increase capacity, according to 2012-13 budget documents.

Nalco is a disinvestment candidate for the government's Rs30,000 crore mop up target. It spent Rs1,333 crore this fiscal.

The budgeted outlay for the company in 2011-12 was Rs1,057 crore, but it was subsequently raised to Rs1,333 crore, the documents show.

The Odisha-based firm plans to invest Rs57,903 crore by 2020 mainly for setting up two aluminium smelters, a report of the Parliamentary Standing Committee on Coal and Steel had stated earlier.

The proposed outlay includes Rs16,500 crore for setting up a 5 million tonnes (MT) smelter in Indonesia, with 1,250 MW power plant. Another smelter of the same size would be built in Western Odisha in two phases, with 1,260 MW power plant at an estimated investment of Rs16,345 crore.

In the early afternoon, Nalco was trading at around Rs56.30 per share on the Bombay Stock Exchange, 0.54% up from the previous close.

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Tata Power's generation capacity crosses 5,000 MW mark

Tata Power's gross generation capacity has touched 5,297 MW, making it the largest private sector power generating company.

Tata Power has announced the successful synchronization of its second unit of 525 MW (Unit 2) of its Maithon mega power project in Dhanbad, Jharkhand under the requisite standard requirements. The first Unit of 525 MW (Unit 1) was commissioned in September 2011.

With this development, Tata Power's gross generation capacity has touched 5,297 MW, making it the largest private sector power generating company as well. The company is also one of the largest renewable players in the country with significant capacity in wind and solar. The company has current generation capacity of 4,447 MW under thermal and 850 MW under Non-GHS clean gen.

In the early afternoon, Tata Power was trading at around Rs102.30 per share on the Bombay Stock Exchange, 0.15% down from the previous close.

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