The much awaited listing of NHPC will happen on Tuesday the 1st of September 2009 at the Convention Centre Mumbai Stock Exchange. The issue is eagerly awaited because it generated a high level of interest especially after the issue of Adani Power which has listed on 20th of August 2009, but is currently struggling at about 3-5% higher than the issue price.

NHPC shares were issued at Rs 36 and in the grey market the premium had touched levels of Rs 12 or 33% higher than the issue price. Over the last few days the premium has dropped significantly and is currently about Rs 4-5 and very few trades are actually happening. There are two important repercussions to the issue performance of NHPC post listing namely: – the success of NHPC will determine the success of the issue of Oil India which opens on 7th September 2009 and secondly HNI’s cost of application was around Rs 7.50 per share. If they do not make money there could be some selling pressure on NHPC and secondly bring about a dampener to the subsequent issues.