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NTPC divestment gets off to flying start; 86% of offered shares subscribed

At the floor price of Rs 168 apiece, sale of 5% stake would fetch around Rs 7,000 cr

Press Trust of India  |  New Delhi 


The government's 5 per cent stake sale in on Tuesday got off to a flying start with 86 per cent of reserved for institutional investors getting subscribed by afternoon.

The is selling over 41.22 crore or 5 per cent stake in state-run power producer with an option to retain over-subscription of similar amount.

At the floor price of Rs 168 apiece, sale of 5 per cent stake would fetch around Rs 7,000 crore to the exchequer.

In Tuesday's offer for sale (OFS), the is selling over 32.98 crore to institutional buyers.

Institutional investors had placed bids for 28.4 crore (28,47,75,011) shares, or 86 per cent of total size, by 1200 hrs, the data showed.

The OFS issue will open for retail investors tomorrow.

However, in secondary market, shares of fell 3 per cent to Rs 168.15 per scrip on the

The has so far raised over Rs 8,800 crore through in six in this fiscal, including selling a stake in L&T through Specified Undertaking of Unit Trust of India (SUUTI), and one share buyback.

This is against Rs 72,500 crore targeted to be raised in 2017-18 through stake sale in PSUs.

This includes Rs 46,500 crore from minority stake sale, Rs 15,000 crore from strategic and Rs 11,000 crore from the listing of PSU insurance

First Published: Tue, August 29 2017. 13:11 IST