NTPC quotes ex-bonus today; stock falls 7%

The company has fixed March 23 as the record date for determining to whom the bonus debentures will be allotted.

Shares of NTPC have dipped 7% to Rs 143 on the National Stock Exchange (NSE) in early morning trade after the stock turned ex-scheme of arrangement today.

As per scheme of arrangement, the existing shareholders will get bonus debentures of face value of Rs 12.50 each against each equity shares of Rs 10 held by its members.

The state-owned electric utilities company had fixed March 23, 2015, as the record date for determining the members /shareholders to whom the Debentures will be allotted in terms of this Scheme.

In December last year, the board of NTPC had approved a scheme of arrangement for the issuance of secured, non-cumulative, non-convertible, redeemable, taxable fully paid-up bonus debentures of face value of Rs 12.50 each against each equity shares of Rs 10 held by its members by utilising its free reserves.

The stock opened at Rs 144 and touched a high of Rs 145 on the NSE so far. Till 0930 hours, a combined 2.28 million shares changed hands on the counter on the NSE and BSE.