Friday, April 8, 2016

Government to Sell Its 5 % Stake in NTPC

Government has decided to divest 5% of its share that raised Rs. 5030 crore in NTPC through the Offer for Sale route as per the disinvestment plan of 2015-16.
  • This will be the second biggest disinvestment after Indian Oil Corporation and sixth disinvestment in the fiscal that spread over two days.
  • Government had offered 41.22 crore shares at a floor price of Rs. 122 per share that raised whooping 5, 030 crore and government remains major stakeholder of 69.96% in NTPC.
  • Disinvestment Board has been fixed target of Rs. 69, 500 crore for2015-16 fiscal , It comes after the SEBI’s OFS Rules revision on disinvestment that allow the bidding for shares spread over two days.

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