Government Plans To Sell 3.25% Stake In NTPC Next Month
The government is planning to sell at least 3.25 percent stake in power producer NTPC Ltd. in December, which will help garner Rs 3,800 crore to the exchequer.
The Cabinet had earlier approved disinvestment of 10 percent stake in NTPC, of which 6.75 percent was sold in August last year.
"NTPC offer for sale is being planned next month. At least 3.25 percent would be put on the block, with a green shoe option, which will be decided based on investor demand," an official told PTI.
At the current market price, sale of 3.25 percent stake in NTPC will fetch about Rs 3,800 crore to the exchequer.
"The merchant bankers are doing domestic roadshows for NTPC. Based on investor demand, the quantum of stake sale will be finalised," the official said.
The government currently holds 61.77 percent stake in NTPC.
Through sale of 6.75 percent in NTPC, the government had last year raised over Rs 9,200 crore.
Shares of NTPC were trading at Rs 142.25, down 0.87 per cent in the afternoon trade on BSE.