New Delhi: PTI reported that, Government is set to sell 41.22 crore shares or 5% (Rs. 5,030 core) stake in NTPC Ltd via offer-for-sale (OFS) on Tuesday. India’s largest power producer NTPC is the first company to hit the markets under the revised OFS (offer for sale) guidelines of markets regulator Sebi.
The government on Monday set the floor price for the offer for sale (OFS) at Rs 122, which was at a 3.82 per cent discount to its Monday’s closing price of Rs 126.85 on the BSE.
The government is keen to narrow the gap between the disinvestment target, budgeted at a record Rs 69,500 crore, and the actual realization, which was estimated at Rs 13,300 crore, thanks largely to LIC buying most of the shares during Indian Oil disinvestment.
NTPC would be the sixth PSU to hit markets in the current fiscal. The disinvestment department has held roadshows in Singapore, Hong Kong, London and in the US.
NTPC said, “retail investors shall be allowed to place their bids only on the T+1 day. Further, those non-Retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day, shall be allowed to revise their bids on T+1 day as per the SEBI OFS Circulars.”
Sourced by PTI