State-run NHPC on Tuesday said it will file revised draft prospectus for its Initial Public Offer to raise Rs 1,670 crore with market regulator SEBI in two days.
"We will file the revised draft red herring prospectus with Securities and Exchange Board of India in a day or two," said Chairman and Managing Director of NHPC, S K Garg.
NHPC Board has approved IPO together with 5 per cent disinvestment of government stake and may become first PSU to go public after Left parties withdrew support from the UPA government.
The company may hit the market by September or early October this year depending upon the market condition.
NHPC, which accounts for 3.7 per cent of country's total power generation capacity, plans to raise at least Rs 1,670 crore through the IPO to part-fund expansion plans.
The company, which by 2012 targets to double power generation capacity from the present 5,200 MW, has outlined expansion plans worth Rs 28,000 crore.
It plans to bring 167 crore shares of a face value of Rs 10 each, which would be offered at a premium to be decided through book building process.
The IPO would comprise sale of 10 per cent of fresh equity shares and 5 per cent disinvestment of government equity.