NTPC sets share auction floor price at 145 rupees

MUMBAI Wed Feb 6, 2013 4:49pm IST

An employee from the electricity board works on newly installed overhead power cables in Allahabad December 7, 2012. REUTERS/Jitendra Prakash

An employee from the electricity board works on newly installed overhead power cables in Allahabad December 7, 2012.

Credit: Reuters/Jitendra Prakash

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Importing Iron Ore

REUTERS SHOWCASE

Diesel Deregulation

Diesel Deregulation

India to decide on diesel deregulation after state polls - govt source.  Full Article 

Drug Approval

Drug Approval

Epirus, Ranbaxy win India approval for arthritis drug copy.  Full Article 

Rajan Speaks

Rajan Speaks

RBI chief Rajan says limiting reliance on foreign debt.  Full Article 

Debt & Equity Deal

Debt & Equity Deal

KKR to lend $175 million to GMR Infrastructure - source.  Full Article 

Preparing for IPO

Preparing for IPO

Alibaba boosts IPO as demand strengthens.  Full Article 

India-Vietnam Ties

India-Vietnam Ties

India tightens Vietnam defence, oil ties ahead of China Xi's visit.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage