|
|
|
|
|
13th Ramzanul Mubarak 1436 | Wednesday, Jul 01, 2015
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

BJP not an individual or family-oriented party: Amit Shah

BJP president Amit Shah on Wednesday said his party was not an individual or family-oriented one, an ...

ISIS kills 50 soldiers in 'worst' attack on Egypt's Sinai...

Egyptian security officials on Wednesday said the "worst" militant attack in the country's restive S ...

Thousands attend pro-democracy rally in Hong Kong

Tens of thousands of people have attended a pro-democracy rally in Hong Kong marking the completion ...

Related News

Car sales subdued in June; Maruti, Hyundai post marginal growth

Domestic car sales were in a slow lane in June with major manufacturers Maruti Suzuki and Hyundai po ...

IndiGo faces litigations involving Rs 1,114 crore

No-frills carrier IndiGo is facing multiple litigations, including those related to income and servi ...

RIL to invest Rs 2.5 lakh crore in digital space: Mukesh Ambani

Reliance Industries will make an investment of over Rs 250,000 crore in the digital space, including ...

Post new comment

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

Rs. 26190 (Per 10g)

Opinion Poll
Do you think 'Operation Late Nigt' of the city police should be continued during Ramzan too?
YesNoCan't say

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

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