NTPC shares down over 4% as OFS sees lacklustre retail demand

Shares of NTPC fell by over 4 per cent today, in line with a weak broader market, as the company's offer for sale (OFS) saw lacklustre retail demand.
The stock ended with a loss of 4.20 per cent at Rs 118.70 on BSE. During the day, it slipped 4.56 per cent to Rs 118.25.
At NSE, shares of the company went down by 4.15 per cent to end at Rs 118.65.
The stock had also lost 2.5 per cent in the previous session.
In terms of volume, 5.98 lakh shares of the company changed hands at BSE and over one crore shares were traded at NSE during the day.

Government today mopped up nearly Rs 5,030 crore from the sale of its 5 per cent stake in NTPC but the retail investor portion remained under-subscribed.

The two-day offer for sale (OFS) which opened for retail investors today saw bids for only about 3.63 crore shares coming from retail investors as against over 8.24 crore reserved for them. The retail investor portion was subscribed only 44.11 per cent.
However, the government has the option to allot the unsubscribed retail quota to institutional buyers, who had yesterday subscribed 1.88 times the shares offered to them.
The government sold over 41.22 crore shares or 5 per cent in NTPC, the nation's largest power generator, at a floor price of Rs 122 apiece through the OFS spread over two days.

Of this, over 32.98 crore shares were offered to institutional investors yesterday.
Bidding for the remaining over 8.24 crore shares happened today by the retail investors who were given a 5 per cent additional discount.
Meanwhile, in the broader market, the Sensex fell by 321.25 points to end at 23,088.93.