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Govt Seeks to Sell up to 10% Stake in Top Power Producer NTPC

The government has set a floor price of 168 rupees ($2.63) apiece for the sale through a stock market auction.

Reuters

Updated:August 28, 2017, 6:31 PM IST
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Govt Seeks to Sell up to 10% Stake in Top Power Producer NTPC
In this June 8, 2012, file photo, an employee works on electric pylons at a power station in Greater Noida on the outskirts of New Delhi. (Photo: Reuters/Parivartan Sharma)
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Mumbai: The government will sell a 5 percent stake in the country's biggest power producer NTPC Ltd over two days to Wednesday with an upsize option to sell an additional 5 percent, according to a regulatory filing.

The government has set a floor price of 168 rupees ($2.63) apiece for the sale through a stock market auction, the filing showed.

Ahead of the announcement, NTPC shares closed 2.5 percent higher at 173.30 rupees in a Mumbai market that gained 0.6 percent.

($1 = 63.9000 Indian rupees)

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