NTPC FPO to be priced at Rs201 per share
03 Feb 2010
The country's largest power producer, NTPC said on Tuesday that it would sell equity shares at Rs201 each as part of a public offer to divest 5 per cent of the government's stake, while its employees would be able to subscribe at a discount of Rs10.
In January 2010, NTPC said that the sale of five per equity in would commence on 3 February while the price band will be fixed a day earlier. (See: NTPC's follow-on public offer to open on 3 February)
'The empowered group of ministers (EGoM) in its meeting held on 1 February decided the floor price for the further public offer of NTPC Ltd at Rs201 per equity share,' the company said in a statement.
Under the public issue the company a total of 412,273,220 equity shares of Rs10 each would be on offer from Wednesday. The issue that will close on 5 February will have on offer a total of 42,73,220 reserved shares for NTPC employees.
According to the company's statement the EGoM had also decided to offer a Rs10 per share discount to eligible employees submitting bids under the Employee Reservation Portion.
Currently the government's holding in the company's equity amounts to 89.5 per cent.
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