NTPC completed India's first corporate bond of the year on Monday, one day ahead of a 5% government-divestment in the country's largest power generator.
A $500 million bond deal and a potential $730 million equity offering have come just days before the country's annual budget on February 29.
This will determine whether the government plans to slow down fiscal consolidation in order to pump prime more growth.
If investors respond favourably to the budget, both the debt and equity deals may gain a positive following wind given NTPC's majority government-ownership and its status as a GDP proxy - producing almost a...
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