<p>The government will sell 5% stake in the country’s largest power producer NTPC at Rs 168 per share to raise about Rs 7,000 crore.<br /><br />The share sale through an offer for sale (OFS) will happen over two days beginning Tuesday, an official said in a statement.<br /><br />NTPC shares closed 2.5% higher on the BSE at Rs 173.55 apiece on Monday.<br /><br />The official said the government will sell 5% through OFS, with an option to retain another 5% in case of over-subscription.<br /><br />Disinvestment<br /><br />The floor price of Rs 168 is at a discount of 3% over Monday’s closing stock price. The government has so far this fiscal raised over Rs 8,800 crore through disinvestment in six companies, including selling stake in L&T through Specified Undertaking of Unit Trust of India (SUUTI), and one share buyback.<br /><br />This is against Rs 72,500 crore targeted to be raised in 2017-18 through stake sale in PSUs.<br /><br />This includes Rs 46,500 crore from minority stake sale, Rs 15,000 crore from strategic disinvestment and Rs 11,000 crore from the listing of public sector units insurance companies.<br /><br /></p>
<p>The government will sell 5% stake in the country’s largest power producer NTPC at Rs 168 per share to raise about Rs 7,000 crore.<br /><br />The share sale through an offer for sale (OFS) will happen over two days beginning Tuesday, an official said in a statement.<br /><br />NTPC shares closed 2.5% higher on the BSE at Rs 173.55 apiece on Monday.<br /><br />The official said the government will sell 5% through OFS, with an option to retain another 5% in case of over-subscription.<br /><br />Disinvestment<br /><br />The floor price of Rs 168 is at a discount of 3% over Monday’s closing stock price. The government has so far this fiscal raised over Rs 8,800 crore through disinvestment in six companies, including selling stake in L&T through Specified Undertaking of Unit Trust of India (SUUTI), and one share buyback.<br /><br />This is against Rs 72,500 crore targeted to be raised in 2017-18 through stake sale in PSUs.<br /><br />This includes Rs 46,500 crore from minority stake sale, Rs 15,000 crore from strategic disinvestment and Rs 11,000 crore from the listing of public sector units insurance companies.<br /><br /></p>