Government announces OFS to sell 5% stake in NTPC

NTPC Limited, a public sector power generation company, announced that the Government of India has proposed to sell up to 41.22 crore shares or 5% stake of the company. The OFS issue is going to open on August 29, 2017 for non-retail investors only and on August 30, 2017 for retail investors and for non-retail investors who choose to carry forward their unallocated bids. The floor price of the offer shall be Rs 168 per equity share of the company.

In the event the oversubscription option is exercised, the equity shares forming part of the base offer size and the oversubscription option will, collectively, hereinafter be referred to as ‘offer shares’ and in case the oversubscription option is not exercised, the equity shares of the company forming part of the base offer size will hereinafter be referred to as ‘offer shares’, through a separate, designated window of the BSE and the NSE, said the company in a BSE filing on Monday.
 
The stock of NTPC was trading at Rs 168 per share, down by Rs 5.35 or 3.09% as at 0957 hours on Tuesday, on the BSE. The stock attracted a traded volume of 51,56,431 shares and traded value of Rs 8,638.57 lakhs on the NSE.