NTPC FPO priced at Rs 201/share

Mumbai: NTPC Ltd has set a floor price of Rs 201 a share for its follow-on public offer, indicating the sale will raise at least Rs 8287 crore, an advertisement on a business news daily on Tuesday showed.

The price was fixed at a 4.9 per cent discount to Monday's close on the BSE.

NTPC net up 5% owing to lower fuel costs

Last month, the NTPC Chairman, R.S. Sharma, had told Reuters that he hoped the stake sale by the government would raise up to $2.6 billion.

The government is selling 412.27 million shares in the state-run company to the public. The book-built issue will open for bidding from February 3 to February 5.

NTPC Q3 net profit at Rs 2364.98 cr

ICICI Securities, Citigroup, JPMorgan and Kotak Mahindra Capital Co are the book-running lead managers to the issue.

NTPC, which generates a fifth of India's power, is evaluating three overseas coal mines and hopes to acquire at least two of them in the next financial year.

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The Finance Ministry is in talks with 32 ministries to sell stakes in about 60 state-run firms to lower its fiscal deficit. Since August, the government has raised $1.8 billion by selling shares in NHPC and Oil India.