NHPC Likely to Set IPO in 30-36 Rupees Price Band

By JOHN SATISH KUMAR
MUMBAI -- State-owned NHPC Ltd. is likely to price its initial public offer in the 30 rupees-36 rupees ($0.74) band when it opens for subscriptions later next month, a banker involved in the issue said Monday.
"This is the price decided by the government, but can be revised if market conditions change," the banker, who didn't wish to be named, told Dow Jones Newswires.
Subscriptions for the 1.68 billion-share issue are scheduled to open Aug. 7 and close Aug. 12. This includes a fresh issue of nearly 1.12 billion shares by the company and an offer for sale of more than 559.12 million shares by the Indian government.
Write to John Satish Kumar at john.kumar@dowjones.com