WebSify
Follow us on
Mail
Print

Bid deadline for NTPC stake sale extended

Source : BUSINESS_STANDARD
Last Updated: Thu, Dec 20, 2012 20:20 hrs

The department of disinvestment (DoD) has extended the date for submission of bids by merchant bankers for handling the government stake sale in NTPC through an offer for sale from December 14 to December 27.

Earlier, the government was targeting NTPC offer for sale (OFS) on January 15, but DoD officials now say this would happen after disinvestment in Oil India Limited.

NBCC, Hindustan Copper and NMDC stake sales this year have given the government over Rs 6,900 crore. The NTPC disinvestment is expected to garner around Rs 13,000 crore and help the government collect a substantial chunk of the Rs 30,000-crore disinvestment target fixed for the financial year.

The paid-up equity capital of NTPC on March 31, was Rs 8,245.46 crore. The government holds 84.5 per cent of the paid-up equity capital of the company and the balance is held by the public.

The government has decided to disinvest about 9.50 per cent paid-up equity share capital of NTPC - amounting to 78,32,62,880 shares of face value of Rs 10 each out of its shareholding of 696,76,61,180 shares - in the domestic market through OFS. The merchant brokers will assist the government till the completion of all activities relating to the OFS.

The bankers and their associates would be required to act as selling brokers for the proposed OFS.

The bankers and their associates would be required to act as selling brokers for the proposed OFS.




blog comments powered by Disqus
most popular on facebook
talking point on sify finance