Govt to sell up to 10% stake in NTPC via OFS at Rs 168 per share; may garner Rs 7,000 crore

The government will sell up to 10 per cent stake in NTPC at a floor price of Rs 168 per share through a two-day offer-for-sale ( OFS) beginning Tuesday.

The sale of 41.23 crore shares would fetch about Rs 7,000 crore to the exchequer.

Shares of NTPC on Monday closed 2.48 per cent up at Rs 173.35.

The two-day OFS would open for institutional investors on Tuesday and retail investors would get to bid on August 30. A retail investor is defined as the one who place bids for shares not more than Rs 2 lakh.

The offer shall take place during trading hours on a separate window of the stock exchanges on T day ie August 29, 2017 commencing at 9:15 am and shall close on the same date at 3:30 p.m.

Non-retail Investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day, shall be allowed to carry forward and also revise their bids on T+1 day as per the Sebi OFS circulars.