Gov­ern­ment gets bids for 7% stake in NTPC worth Rs9,100 crore

Mint ST - - CORPORATE -

New Delhi: The gov­ern­ment has re­ceived bids for 7% stake in In­dia’s largest power pro­ducer NTPC Ltd, which will fetch about Rs9,100 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% of the quota al­lo­cated for them.

The gov­ern­ment had planned to sell over 412.2 mil­lion shares, or 5% hold­ing, through the two-day of­fer-for-sale, with an op­tion to re­tain a sim­i­lar por­tion in case of over­sub­scrip­tion. PTI

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