The National Thermal Power Corporation is likely to start roadshows, beginning with Mumbai, from the second week of August to lure investors for its maiden initial public offer to raise up to Rs 2,000 crore (Rs 20 billion).
The roadshow would start about 15 days before the issue opens in August-end, and NTPC would send two teams, heeded by CMD C P Jain and Director (Finance) P Narasimharamula to meet the prospective investors.
While Jain would lead a team that will meet investors abroad in cities including New York, Los Angeles, London, Tokyo, Hong Kong and Singapore, Narasimharamula would hold meetings in Mumbai, Ahmedabad, Delhi, Pune, Chennai, Bangalore besides a few cities abroad, sources associated with the process said.
NTPC is all set to enter the market with Rs 432 crore (Rs 4.32 billion) as a fresh equity issue and the corporation is likely to hit the market in August end, sources said, adding that the issue may get delayed in case the government clubs divestment of its five per cent stake along with the IPO.
NTPC had submitted the draft red herring prospectus to the Securities and Exchange Board of India last month and is expecting clearance in the next few days.
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