NTPC shares down 2.5% amid stake sale

Shares of NTPC fell by 2.5 per cent today even as the company's stake sale saw institutional investors portion getting oversubscribed.
The scrip of India's largest power producer fell by 2.33 per cent to settle at Rs 123.90 on BSE. During the day, it had lost 3.35 per cent to Rs 122.60.
On NSE, it went down by 2.5 per cent to end at Rs 123.80.
On the volume front, 6.64 lakh shares of the company changed hands on BSE and over 96 lakh shares were traded on NSE during the day.
Government's 5 per cent stake sale in NTPC got off to a thumping start today with the institutional investors portion getting oversubscribed within two hours of opening of trade.

Bidding would open for retail investors, for whom 20 per cent shares are reserved, tomorrow.

The floor price of Rs 122 a piece was at a 3.82 per cent discount to yesterday's closing price of Rs 126.85 on BSE.
The share sale is the first under capital market regulator Sebi's revised offer for sale (OFS) rules that allow the bidding for shares spread over two days.
NTPC is the first company to hit the markets under the revised OFS guidelines of market regulator Sebi.