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
- Dynasty's Congress party punished in state elections
- Anti-corruption crusader Kejriwal stuns Indian politics with election surge
- Anti-corruption crusader stuns Indian politics with election surge
- India finally fall in line to get Olympic ban overturned
- S Africa beat India again to lift mood of one-day series
The Congress party was headed for a bruising defeat in key state elections, including in the capital, early results showed on Sunday, underlining the struggle it will face to cling to power in a national election due by May. Full Article