The Follow-on Public Offers (FPOs) of either NTPC or Rural Electrification Corporation (REC), are likely to be launched in the next couple of months, a senior government official said on Wednesday.
The Follow-on Public Offers (FPOs) of either NTPC or Rural Electrification Corporation (REC), are likely to be launched in the next couple of months, a senior government official said on Wednesday.
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Another FPO, that of NMDC, is also expected to be held by the end of this fiscal, the official said.
"I am quite hopeful that there will be four-five issues this year, that of REC, NTPC, Satluj Jaal Vidyut Nigam Ltd and NMDC Ltd. The toss-off for FPO is between REC and NTPC which I am hopeful will be coming through during the next couple of months," Finance Ministry, Department of Disinvestment, Joint Secretary Sidhartha Pradhan told reporters here today.
Pradhan said the FPO will happen as soon as the companies expedite the process of updating their accounts and getting Sebi clearance. The government is also considering a policy decision on the optimum utilisation of funds raised through the FPO, he said.
"A policy decision will be announced in the next couple of weeks on how best to utilise the money. It is in the offing and we have to wait for the Cabinet decision," Pradhan said.
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