A ministerial panel under finance minister P Chidambaram, fixed a floor price of Rs 145 a share for government’s 9.5% stake in power major NTPC, that would be put up for sale on February 7, 2013, with the aim of mopping up Rs 12,000 crore. Post-disinvestment, the government’s stake will be scaled down to 75%. However, the price offered for sale turns out to be at 6.81% discount to the Market Price of Rs 155.60 as February 5, 2013.
The government, after successfully completing 10% stake sale in Oil India (OIL) through the offer for sale (OFS) route last week, has proposed to offload its stake in NTPC through the same route. Meanwhile, the Department of Disinvestment (DoD) has already conducted international road shows for disinvestment of NTPC.
Further, with Oil India stake sale, the government raised over Rs 10,000 crore the PSU stake sale so far this fiscal includes Rs 6,000 crore raised from stake sale in NMDC, Rs 800 crore from HCL and Rs 125 crore from NBCC as against the budget target of Rs 30,000 crore for this fiscal.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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