The government will sell 2.06 crore shares in NTPC to eligible employees at a price of ₹115.90, a 5 per cent discount to the price of ₹122 at which the government sold 5 per cent stake in the power generator in February.
The offer-for-sale, if fully subscribed, will help the government to raise around ₹238 crore. The offer will remain open from June 27 to July 5, the company said in a filing to the BSE on Wednesday.
The offer price is a 23 per cent discount from Wednesday’s closing price of ₹152.25.
Independent directorMeanwhile, NTPC said in a separate filing that Seethapathy Chander will join the company’s board as independent director. He is currently Senior Advisor to the President of Asian Infrastructure Investment Bank and is an Independent Director on the boards of Tata Power Solar, Tata Power Trading and an honorary Senior Advisor to the Secretary General of the World Energy Council.