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NTPC offers 27.4 mn equity shares to employees at Rs 159.60 per scrip

Discounted price was fixed after factoring in 5% discount to the cut off price of Rs 168

Press Trust of India  |  New Delhi 

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NTPC

State-run power giant on Wednesday said it has offered 27.4 million equity to its employees at a discounted price of Rs 159.60 per scrip.

The discounted price was fixed after factoring in 5 per cent to the cut off price of Rs 168, discovered through the of equity of carried out by the government on August 29-30.

"In accordance with approval accorded by AM, Government of India (GOI) has offered 2,74,02,498 Equity of Rs 10 each to the eligible employees of Ltd at discounted price of Rs 159.60 per share," said in a filing on Wednesday.

GOI sold 7 per cent stake in the country's largest power producer, fetching about Rs 9,100 crore to the exchequer.

The company has initiated the process sale of equity to the eligible employees. The of share will remain open from September 11-13.

First Published: Wed, September 06 2017. 16:54 IST
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