5 percent government stake sale in NTPC on Tuesday

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New Delhi, Feb 22 (IANS) The government will on Tuesday divest 5 percent stake in power generator NTPC through the offer for sale (OFS) route as a part of the disinvestment programme for this fiscal ending March 31, an official statement said.

The base price for the OFS has been fixed at Rs.122 per share. The government, which currently holds 74.96 percent stake in the power utility, will sell more than 412 million shares, 20 percent of which is reserved for retail investors.

The government has divested stake in five companies, raising a total of Rs.13,300 crore so far in this fiscal, while this sale will be the second biggest divestment after Indian Oil Corp, which garnered the exchequer around Rs.9,370 crore.

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SBI Cap Securities, ICICI Securities, Edelweiss Securities and Deutsche Equities are the bankers to the share sale.

NTPC stock closed on Monday at Rs.126.85 a share, down 2 percent on its previous close on the Bombay Stock Exchange (BSE).

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