NTPC issue subscribed 70 percent on first day of offer
February 3rd, 2010 - 9:03 pm ICT by IANSMumbai, Feb 3 (IANS) State-run power utility NTPC’s public offer, which opened Wednesday, was subscribed 70 percent of the total shares on sale, according to data available at the National Stock Exchange.
NTPC is selling each equity share at Rs.201 as part of the public offer to divest five percent of the government’s stake, while its employees will be able to subscribe at a discount of Rs.10.
At 4 p.m., data with NSE showed that the power company recieved about 28.7 crore bids, against the 412,273,220 equity shares on offer, of which 42,73,220 equity shares are reserved for NTPC employees.
The follow-on offer closes Feb 5.
The government currently owns about 89.5 percent of NTPC’s equity.
ICICI Securities, Citigroup Global Markets, JP Morgan and Kotak Mahindra Capital are the book running lead managers to the offer.
At the Bombay Stock Exchange, the NTPC scrip closed at Rs.209.80, up 1.82 percent from its previous close.
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Tags: bombay stock exchange, citigroup, equity share, global markets, jp morgan, kotak mahindra, national stock exchange, nse, ntpc, recieved, scrip, stake
