NTPC FPO, NHPC IPO only when markets stabilise

NEW DELHI: Government on Wednesday said the public offer for sale of shares in state-run power firms NTPC and NHPC will come as and when market conditions are appropriate.

"NTPC's Follow-on Public Offer and NHPC's Initial Public Offer will come when the market conditions are conducive," Power Secretary Anil Razdan told reporters here.

NHPC had earlier scheduled the launch of the offer between October 13 and 17 to raise nearly Rs 1,670 crore worth fresh equity, besides premium.

Last year, the company had to shelve its initial plans as the requisite number of independent directors were not on the Board and now due to the choppy market conditions.