National Thermal Power Corporation Ltd's scrip was on Friday listed on the Bombay Stock Exchange and the first trade was struck at Rs 70, at premium to the issue price.
The first deal was contracted at Rs 70 per share for 100 shares, a BSE official said in Mumbai.
The issue price was fixed at Rs 62 per share of Rs 10 each. The book-built issue of state-owned power generation company opened for bidding on October 7 and closed on October 14, 2004.
The bidding price band for the initial public offering was Rs 52-62 per share. The public issue of 86,58,30,000 equity shares of Rs 10 each for cash consisted of a fresh issue of 43,29,15,000 equity shares and offer for sale of equal number of equity shares held by the government of India.
The IPO was oversubscribed by about 12 times the issue size.
NTPC would use the proceeds of the IPO for funding growth of power generation capacity. ICICI Securities Ltd, Enam Financial Consultants Ltd, Kotak Mahindra Capital Company Ltd are acting as lead managers for the public offer.