Government stake in NTPC drops to below 63%

The company allotted, transferred 94,69,848 shares to its employees

Government stake in state-owned power giant NTPC has come down to 62.99 per cent, from 63.11 per cent, after the company issued shares to its employees.

"With the allotment and transfer of 94,69,848 shares to employees, the Government of India's holding in NTPC has come down from 520,36,08,726 equity shares i.E. 63.11% of total paid-up capital to 519,41,38,878 equity shares i.E. 62.99% of total paid-up capital," the NTPC said in BSE filing today.

The offer to the eligible employees of NTPC Ltd was opened from September 11-13.

The government had last month sold 7 per cent stake in the country's largest power producer, fetching about Rs 9,100 crore to the exchequer.

The applications from the eligible employees were received by the NTPC Ltd during the Offer Period and allotment of 94,69,848 equity shares to 4,585 successful eligible employees was made on September 19, it added.

The company is the largest public sector power generator in the country having installed capacity of over 50,000 MW.