NTPC share sale oversubscribed, may fetch around Rs11,400 crore
07 Feb 2013
NTPC's mega share sale is expected to rake in a little over Rs11,400-crore ($2.14 billion) with the issue being oversubscribed by the close of trading hours today.
Bids were received for a total of 1,32,84,55,619 shares at the close of trading today against the maximum bid quantity of 78,32,62,880 shares.
Of these 63,50,43,146 shares were bid at 100 per cent margin while 69,34,12,473 shares were bid at zero margin. Allocation will be made on a price priority method.
The indicative price, which is the weighted average price of all valid bids, was Rs145.91 share. At this price, the government would garner at least Rs11,429 crore.
The government had fixed the floor price for the 9.5 per cent share auction of NTPC at Rs145 apiece.
Shares of NTPC were quoting at Rs148.50, down 2.50 percent from its previous close on BSE. During the morning session the NTPC scrip fell to a low of Rs147.65.
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