Press Esc to close
Saturday 28 March 2015
News updated at 1:16 AM IST
Weather
Max: 34.5°C
Min : 22.3°C
In Bengaluru
Sunny day

NTPC divestment likely on Jan 15

New Delhi, Dec 11, 2012, PTI:

The government is likely to divest 9.5 per cent of its stake in the largest power generator NTPC on January 15, sources said.

“NTPC is next on the government’s divestment agenda. The issue is likely to hit the market around January 15, 2013,” sources in the finance ministry said.

The government proposes to divest 9.5 per cent stake in NTPC via Offer for Sale (auction) route, they added.

NTPC shares on Tuesday close at Rs 154.30 a share, down 1.66 per cent on BSE.

The government holds 84.5 per cent stake in the Maharatna company. Post-disinvestment, the government stake would come down to 75 per cent.

NTPC became public with an initial public offer in 2004. Thereafter in 2009, the government further diluted its stake in the company through a Follow-on Public Offer (FPO).

The power generation company had reported a net profit of Rs 9,223.73 crore in the last fiscal as against Rs 9,102.59 crore in the 2010-11.

The market capitalisation of the company stood at 1,34,194.93 crore at the end of March 2012.

As part of the disinvestment process, the government has lined up around a dozen companies for stake sale to realise the target for the current fiscal. The government has set a disinvestment target of Rs 30,000 crore in the current fiscal.

Last month, the government initiated disinvestment process by selling 5.58 per cent stake in Hindustan Copper for about Rs 808 crore at an average price of Rs 156.56 apiece.

NMDC’s 10 per cent share sale is scheduled to take place tomorrow. The offer may fetch a maximum of Rs 5,947 crore to the exchequer.

The government, which has 90 per cent holding in the iron ore producer NMDC, plans to divest 39.65 crore shares, amounting to 10 per cent of its equity through offer for sale.


Go to Top

Photo Gallery
An Auto driver seen upset outside theTV showroom as he was watching...

An Auto driver seen upset outside theTV showroom as he was watching...

Angry cricket fans burn the posters of Virat Kohli and Bollywood...

Angry cricket fans burn the posters of Virat Kohli and Bollywood...

Indian cricket fans react as India bats against Australia during their...

Indian cricket fans react as India bats against Australia during their...

Indian supporters wait in the stands following their team's...

Indian supporters wait in the stands following their team's...

India's Virat Kohli (C) and team mates react after Australia won their...

India's Virat Kohli (C) and team mates react after Australia won their...

India's batsmen Umesh Yadav (L) and Mohammed Shami walk off the...

India's batsmen Umesh Yadav (L) and Mohammed Shami walk off the...

Australia's teammates look at India's batsmen Umesh Yadav's face after his...

Australia's teammates look at India's batsmen Umesh Yadav's face after his...

Australian team mates react after they won their Cricket World Cup semi-final...

Australian team mates react after they won their Cricket World Cup semi-final...

Actress and newly appointed AICC National Spokesperson Kushboo...

Actress and newly appointed AICC National Spokesperson Kushboo...

Saina Nehwal at India Open...

Saina Nehwal at India Open...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523