NTPC sets share auction floor price at 145 rupees
MUMBAI (Reuters) - The floor price for state-run power utility NTPC Ltd's (NTPC.NS) share sale, scheduled for Thursday, has been set at 145 rupees, or a 4.5 percent discount to its Wednesday's close, said the company, valuing the sale at about $2.14 billion.
The government expects to raise $2.25 billion from the offer, the disinvestment secretary has said.
The government will sell a 783.26 million shares or 9.5 percent stake in NTPC through the single-day auction, as part of its drive to raise 270 billion rupees by selling shares in some state enterprises in the 2012/13 fiscal year.
Ahead of the share sale, NTPC shares closed at 151.80 rupees on Wednesday, down 2.4 percent in a weak Mumbai market.
(Reporting by Prashant Mehra; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- EXCLUSIVE - Apple iPhone 6 screen snag leaves supply chain scrambling
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Arvind Subramanian likely to be chief econ adviser
- Indians keep faith with Modi, best hope for economy - poll
- Govt raises sugar import duty to 25 pct from 15 pct
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article