By IANS,
New Delhi : State-run power utility NTPC will sell each equity share at Rs.201 as part of the public offer to divest five percent of the government’s stake, while its employees will be able to subscribe at a discount of Rs.10, the company Tuesday said in a statement.
“The Empowered Group of Ministers (EGoM) in its meeting held on Feb 1 decided the floor price for Further Public Offer of NTPC Ltd. at Rs.201 per equity share,” the company said in a statement.
The follow-on public issue Wednesday will see the country’s largest power generation firm offer 412,273,220 equity shares of Rs.10 each. It will close Feb 5. A total of 42,73,220 equity shares are reserved for NTPC employees.
“EGoM has also decided to offer a discount of Rs.10 per share to eligible employees submitting bids under the Employee Reservation Portion,” the statement added.
The government currently owns about 89.5 percent of NTPC’s equity.
ICICI Securities, Citigroup Global Markets, JP Morgan and Kotak Mahindra Capital are the book running lead managers to the offer.
At the Bombay Stock Exchange, the NTPC scrip closed at Rs.206.05, down 2.46 percent from its previous close.