|
|
|
|
|
5th Muharram 1436 | Friday, Oct 31, 2014
Business

NTPC share sale over-subscribed; Govt to garner over Rs 11,500 cr

Thursday, 7 February 2013
Comments(0)
New Delhi, February 07:

The government on Thursday said it is satisfied with the response to NTPC's share sale and expects to garner more than Rs 11,500 crore from the offer -- the biggest disinvestment mop up so far this fiscal.

"The government is satisfied with the response to this (NTPC) offer. We expect more than Rs 11,500 crore from the issue," Disinvestment Secretary Ravi Mathur said here after the offer closed for subscription.

The total demand received is for 132.84 crore shares and indicative price is Rs 145.91. Thus, the offer has been subscribed 1.7 times, he said.

Sharing further details, Mathur said there was good participation from foreign institutional investors (FIIs).

"One FII bid for 1,000 crore shares in the early hours of the trade. More order inflow came in towards the end of the day. Individually, FIIs have put in USD 50-100 million," he said.

The government had fixed the floor price for the 9.5 percent stake auction of NTPC at Rs 145 per scrip.

The government is selling 78.32 crore shares or 9.5 percent of its stake in NTPC through the offer for sale route. It holds 84.50 percent stake in NTPC. After stake sale, its holding will come down to 75 percent.

So far this fiscal the government has already raised over Rs 10,000 crore through stake sale in PSUs like Oil India, NMDC and HCL.

PTI

Latest News

Rahul starts deliberations after string of poll reverses

Rahul Gandhi has embarked on brainstorming sessions with senior Congress leaders to decide the futu ...

AAP begins preparation for by-elections

Aam Aadmi Party today kick started its preparations for the upcoming by-elections in the national capital which will be ...

U'khand governor speaks against cow s...

Uttarakhand Governor Aziz Qureshi today spoke against cow slaughter, saying that such a practice is in violation of law and an issue to whic ...

Related News

Samsung to reform smartphone product line post dire profit report

Samsung has reported that its operating profit has come down 60 percent, and income from sales is do ...

LinkedIn's Q3 sales beat estimates with 568M dollar sales

LinkedIn reported its results for the third quarter of the year, beating the estimates on sales 568 ...

Xiaomi becomes third largest smartphone maker in just three years

Xiaomi Corp has made it to the top-three smartphone making companies in just three years of launch, ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26810 (Per 10g)

Opinion Poll
Do you think formation of 'She' teams would be beneficial for women's safety?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, AP, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com