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HindustanTimes Thu,02 Oct 2014

NTPC share auction floor price set at 4.5% discount

Reuters  Mumbai, February 06, 2013
First Published: 16:57 IST(6/2/2013) | Last Updated: 16:59 IST(6/2/2013)

The floor price for state-run power utility NTPC Ltd's share sale, scheduled for Thursday, has been set at Rs. 145, or a 4.5% discount to its Wednesday's close, said the company, valuing the sale at about $2.14 billion.

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The government expects to raise $2.25 billion from the offer, the disinvestment secretary has said.

The government will sell a 783.26 million shares or 9.5% stake in NTPC through the single-day auction, as part of its drive to raise Rs. 270 billion by selling shares in some state enterprises in the 2012/13 fiscal year.

Ahead of the share sale, NTPC shares closed at Rs. 151.80 rupees on Wednesday, down 2.4% in a weak Mumbai market.


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