Letters: Flop show

If the NTPC follow-on public offering (FPO) managed to scrape through, it was only because of government-owned financial institutions, which were probably asked to subscribe to it. If this is the state of a navratna PSU’s offering, and a PSU that continues to be one of the most attractive producers of electricity in the country, it speaks volumes about the state of the equity market. There is either a bear cartel that is working against the issue or the market has not recovered to the levels that most people believe. This does not augur well for future disinvestments planned by the government.

 

Usha Khanna, Noida

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