GET Stock QuotesNews18 APP
News18 English

SPONSORS

Powered by cricketnext logo
»
1-min read

Govt Sells 7% in NTPC to Raise Rs 9,100 Crore

At the end of the two-day offer for sale (OFS), the government retained over-subscription it had received from institutional investors after retail investors bid for only 73 per cent of the quota allocated for them.

PTI

Updated:August 30, 2017, 11:36 PM IST
facebookTwittergoogleskypewhatsapp
Govt Sells 7% in NTPC to Raise Rs 9,100 Crore
Representative image (Photo: Reuters/Parivartan Sharma)
New Delhi: The government has received bids for 7 per cent stake in India's largest power producer NTPC, which will fetch about Rs 9,100 crore to the exchequer.

At the end of the two-day offer for sale (OFS), the government retained over-subscription it had received from institutional investors after retail investors bid for only 73 per cent of the quota allocated for them.

The government had planned to sell over 41.22 crore shares, or 5 per cent holding, through the two-day OFS, with an option to retain a similar portion in case of over- subscription.

On the opening day yesterday, institutional investors bid for 46.35 crore shares against 32.98 crore shares offered to them, according to stock exchange data.

Today, retail investors bid for 8.45 crore shares against 11.58 crore shares on offer.

Officials said the government decided to retain over-subscription, and after adjustments a total of 7 per cent stake was sold in the OFS, garnering Rs 9,100 crore.

The shares were offered at a floor price of Rs 168 apiece.

Shares of NTPC closed marginally lower at Rs 168 on the BSE.

The government has so far this fiscal raised over Rs 8,800 crore through disinvestment in six companies, including selling stake in L&T through Specified Undertaking of Unit Trust of India (SUUTI), and one share buyback.

This is against Rs 72,500 crore targeted to be raised in 2017-18 through stake sale in PSUs.

The total sum includes Rs 46,500 crore from minority stake sale, Rs 15,000 crore from strategic disinvestment and Rs 11,000 crore from listing of PSU insurance companies.
Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Jubilant Food 2,093.30 +149.95 +7.72
Yes Bank 349.35 +8.15 +2.39
ITC 274.55 +1.15 +0.42
ICICI Bank 353.60 +7.45 +2.15
SBI 309.25 +6.00 +1.98
Company Price Change %Gain
ICICI Bank 353.55 +7.45 +2.15
HDFC 1,900.45 +3.45 +0.18
Sunteck Realty 417.15 +18.95 +4.76
Power Grid Corp 196.00 -1.20 -0.61
Maruti Suzuki 9,321.35 -37.65 -0.40
Top Gainers
Company Price Change %Gain
Indiabulls Hsg 1,301.80 +58.10 +4.67
Adani Ports 433.45 +17.20 +4.13
Bajaj Finance 1,701.90 +41.20 +2.48
Yes Bank 349.35 +8.15 +2.39
ICICI Bank 353.60 +7.45 +2.15
Company Price Change %Gain
Adani Ports 433.75 +19.40 +4.68
Yes Bank 348.30 +8.05 +2.37
ICICI Bank 353.55 +7.45 +2.15
SBI 309.05 +6.30 +2.08
TCS 2,954.75 +44.65 +1.53
Top Losers
Company Price Change %Gain
Ambuja Cements 268.60 -7.05 -2.56
UltraTechCement 4,300.00 -108.65 -2.46
Infosys 1,143.45 -9.25 -0.80
Sun Pharma 572.10 -4.60 -0.80
Maruti Suzuki 9,323.95 -44.75 -0.48
Company Price Change %Gain
Infosys 1,143.25 -9.50 -0.82
Sun Pharma 572.00 -4.25 -0.74
Maruti Suzuki 9,321.35 -37.65 -0.40
ONGC 193.60 -0.45 -0.23
NTPC 172.35 -0.15 -0.09

Live TV