NTPC shares fall over 2 pc ahead of stake sale
After falling nearly 3 per cent during the day, shares of the power major finally ended at Rs 152.30, down 2.12 per cent on the BSE. The stock was the top loser among the 30-Sensex stocks.
At the National Stock Exchange, the scrip settled at Rs 151.75, down 2.38 per cent from its previous close.
The government has fixed the floor or minimum price for sale of its 9.5 per cent stake in NTPC at Rs 145 per share, a 4.79 per cent discount to its current market rate, to garner over Rs 11,300 crore for the exchequer.
The government proposes to sell 78.32 crore shares or 9.5 per cent stake in the country's largest power producer through offer for sale (OFS) route and the auction would take place tomorrow.
The NTPC disinvestment, which would be the biggest so far this fiscal, would help the government fetch at least Rs 11,356 at the floor price.
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