No plan of follow-on issue in NTPC: Shinde

New Delhi, Sept 6 (UNI) The Government today said it has no plan to issue follow-on public offer (FPO) in the country's largest power generating company NTPC.

''We have no immediate plan for a follow-on public issue in NTPC,'' Power Minister Sushil Kumar Shinde told reporters here.

Earlier it was reported that NTPC would go for a FPO issue to mobilise resources for their proposed spend on upcoming power plants.

The company had mopped up Rs 5,386 crore through the IPO that hit the market in October, 2004.

Half of this amount went to the government that also divested five per cent of its equity in the company along with the IPO.

NTPC has proposed to add over 22,000 MW of power during Eleventh Plan (2007-2012) with an investment of over Rs 88,000 crore.

UNI