The National Thermal Power Corporation (NTPC) has scaled down its proposed public float to Rs 400 crore, from a issue size of about Rs 1,500 crore being planned earlier. The decision to approach the markets with a smaller issue was prompted by a decision to avoid expanding its equity size to limit dividend outgo, government officials said.
The corporation was planning to approach the capital markets in July 2003, officials said. Apart from the domestic issue, NTPC is also exploring the possibility of raising funds overseas.