Mumbai: National Thermal Power Corporation Ltd''s scrip today listed on the Bombay Stock Exchange and the first trade was struck at Rs70, at premium to the issue price.

The issue price was fixed at Rs62 per share of Rs10 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 Rs52-62 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.

NTPC will use the proceeds of the IPO for funding growth of power generation capacity.