RPT-UPDATE 1-India's NHPC revives its share offer plans

(Repeats story issued late on Wednesday) (Recasts with company confirmation)

MUMBAI, Aug 6 (Reuters) - Indian hydropower generator NHPC Ltd on Wednesday revived plans for an initial public offer of shares, filing papers with the market regulator, while two bankers said it hoped to raise $600 million with the issue.

NHPC initially handed over a proposal for the IPO in April, but had to delay the offer as it did not have enough independent directors on board, the investment bankers, who are involved in the deal, had earlier told Reuters.

"We have submitted the draft red herring prospectus with the market regulator today," said S.K. Garg, chairman and managing director of NHPC.

The company, previously known as National Hydroelectric Power Corp, will sell 1.68 billion shares, which would include a fresh issue of 1.12 billion shares, the firm said in a statement.

The bankers said the firm planned to sell a 13.64-percent stake in October or November. They declined to be named as they are not authorised to speak to the media.

The board of NHPC approved the proposed IPO on Tuesday, the company said, adding the funds would be used for its expansion.

SBI Capital Markets, Enam Securities Pvt Ltd and Kotak Mahindra Capital are advisers to the issue.

A weak Indian stock market has forced at least 10 firms to shelve or defer IPOs worth $4.1 billion this year, Thomson Reuters data showed. The main share index .BSESN has fallen by a quarter this year.