NTPC dips ahead of the OFS
the government has set a floor price of Rs 145 a share for its proposed 9.5% stake sale through offer for sale.
NTPC is trading lower by almost 2% at Rs 153 in morning trades after the government has set a floor price of Rs 145 a share for its proposed 9.5% stake sale through offer for sale (OFS). The floor price is 7% discount to Monday’s closing price of Rs 156 on the National Stock Exchange.
“The sale shall take place on the separate window of the stock exchanges and shall commence on February 07, 2013 at 9.15 AM and shall close on the same day at 3.30 p.m.,” NTPC said in a filing.
The government plans to sell about 783 million shares is set to garner around Rs 12,000 crore. It currently holds 84.50% in the country's biggest generation utility.
The stock opened at Rs 155 and has seen a combined 1.4 million shares changing hands on the counter so far on both the exchanges.
“The sale shall take place on the separate window of the stock exchanges and shall commence on February 07, 2013 at 9.15 AM and shall close on the same day at 3.30 p.m.,” NTPC said in a filing.
The government plans to sell about 783 million shares is set to garner around Rs 12,000 crore. It currently holds 84.50% in the country's biggest generation utility.
The stock opened at Rs 155 and has seen a combined 1.4 million shares changing hands on the counter so far on both the exchanges.