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HindustanTimes Thu,17 Apr 2014

NTPC selloff on Thursday

HT Correspondent, Hindustan Times  New Delhi, February 05, 2013
First Published: 22:31 IST(5/2/2013) | Last Updated: 22:33 IST(5/2/2013)

The government will kickstart its first big ticket disinvestment for the current fiscal on Thursday when it offloads a 9.5% stake in state-owned NTPC, expected to fetch the exchequer over Rs.12,000 crore.

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“The EGoM has approved 9.5% stake sale in NTPC that will be made on February 7,” disinvestment secretary Ravi Mathur said.

The empowered group of ministers (EGoM) on disinvestment is chaired by dinance minister P Chidambaram.

When asked how much would be raised through the sale, Mathur said, “it would be as planned around R12,000 crore”.

He said the floor price, or the minimum offer price, would be notified to the stock exchanges on Wednesday.

The government plans to sell over 78.32 crore shares or 9.5% stake in NTPC through offer for sale (OFS). It currently holds 84.50 % stake in NTPC.

Shares of NTPC closed at R155.60, up 0.16 % on the BSE.

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