Indian power privatization sells out in minutes

Investors desperate for quality Indian paper ensure stiff pricing for billion-dollar NTPC offer.

Nick Ferguson

October 07, 2004

Investors filled the order book for National Thermal Power Corporation's initial public offer within minutes of its opening on Thursday (October 7). The intense demand ensures the offer is certain to price at the top end of its marketed range when the book officially closes on October 14 and will put it on a par with Tata Consultancy Service's record-breaking IPO in August.

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