MUMBAI 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)
Trending On Reuters
The Lok Sabha on Thursday backed a new bankruptcy code, a crucial step towards establishing a debt resolution regime to strengthen the hands of banks seeking to recover $120 billion in troubled loans. Full Article