The government is likely to raise nearly Rs 7000 crore from a 5 per cent stake sale in public sector undertaking power generator NTPC. In a statement to the exchanges, NTPC said that the Government of India as the promoter of the company proposes to sell up to 41,22,73,220 (5 per cent) equity Shares on August 29. An official statement said that the the floor price of the offer shall be Rs 168 a share.
At this price, the government will raise Rs 6926.19 crore.
The Offer shall take place over two trading days. Only non-retail investors shall be allowed to place their bids on August 29. The Offer shall continue during trading hours on a separate window of the Stock Exchanges on August 30. Only Retail Investors shall be allowed to place their bids on August 30.