August 28, 2017 / 12:42 PM / 4 months ago

India seeks to sell up to 10 pct stake in top power producer NTPC

MUMBAI, Aug 28 (Reuters) - India will sell a 5 percent stake in the country’s biggest power producer NTPC Ltd over two days to Wednesday with an upsize option to sell an additional 5 percent, according to a regulatory filing.

The government has set a floor price of 168 rupees ($2.63) apiece for the sale through a stock market auction, the filing showed.

Ahead of the announcement, NTPC shares closed 2.5 percent higher at 173.30 rupees in a Mumbai market that gained 0.6 percent. ($1 = 63.9000 Indian rupees) (Reporting by Abhirup Roy and Devidutta Tripathy; Editing by Biju Dwarakanath)

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