“We will have to file the Draft Red Herring Prospectus (DRHP) with Sebi next month...we plan to hit the market by February,” CMD NTPC R S Sharma told reporters. The Cabinet Committee on Economic Affairs had last month given approval for sale of five per cent government stake in the navratna PSU.
After the five per cent stake dilution, the government’s holding in NTPC would come down to 84.5 per cent from the current 89.5 per cent. The government expects to mop up about Rs 8,100 crore from the market through this FPO, at the current market conditions.
The proceeds from the FPO would go to the investment fund that finances social sector schemes.
Published 15 November 2009, 18:33 IST