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NTPC slips 4% as govt to sell up to 10% stake via OFS

The share sale through an offer for sale (OFS) will happen over two days beginning today

SI Reporter  |  New Delhi 

NTPC

Shares of fell over 4% on the BSE on Tuesday after the notified that it will sell up to 10% stake in the country's largest power producer to raise about Rs 7,000 crore.

The stock slipped as much as 4.23% to hit its intraday low of Rs 166 on the BSE. 

The share sale through an (OFS) will happen over two days beginning today. The Centre has fixed the base price for the at Rs 168 per share, close to a 3% discount to Monday’s close. Retail investors will get a special discount of 5% on the allotment price.

The (OFS) will have a core component of 412 million shares (5% stake), with a greenshoe option to sell another 5%. CLICK HERE FOR FULL REPORT

The currently owns a 69.7 per cent stake in the company. After the issue, the stake could come down to 59.7 per cent. is the fourth-largest public sector undertaking (PSU) in terms of market capitalisation, after Oil and Natural Gas Corporation, State Bank of India, and Coal India. The market capitalisation of the company is nearly Rs 1.43 lakh crore. 

First Published: Tue, August 29 2017. 09:37 IST
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