FPO buzz lifts NTPC
Thermal power major NTPC's stock on Monday shot up 6.95 per cent to Rs 185.35 on reports the government plans to divest 4.75 per cent of its stake in the firm through a follow-on public offer that could bring in around Rs 6000 crore.
By PTI |
MUMBAI: Thermal power major NTPC's stock on Monday shot up 6.95 per cent to Rs 185.35 on reports the government plans to divest 4.75 per cent of its stake in the firm through a follow-on public offer that could bring in around Rs 6000 crore.
In February 2004, the government had allowed State-run NTPC to go for an IPO of 10 per cent of its paid-up capital in one or more stages to augment resources.
NTPC chose to go for an IPO of 5.25 per cent, leaving balance 4.75 per cent of approved IPO for later date.
The proposed sale is aimed at increasing the free float of NTPC's shares in the market and help improve the company's valuation, reports suggest.
In February 2004, the government had allowed State-run NTPC to go for an IPO of 10 per cent of its paid-up capital in one or more stages to augment resources.
NTPC chose to go for an IPO of 5.25 per cent, leaving balance 4.75 per cent of approved IPO for later date.
The proposed sale is aimed at increasing the free float of NTPC's shares in the market and help improve the company's valuation, reports suggest.
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