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NTPC Share Auction Floor Price Set At 4.5% Discount

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The floor price for state-run power utility NTPC Ltd's share sale, scheduled for 7 February' 2013, has been set at Rs. 145, or a 4.5 per cent discount to its 6 February' 2013 close, said the company, valuing the sale at about $2.14 billion.
 
The government expects to raise $2.25 billion from the offer, the disinvestment secretary has said.
 
The government will sell a 783.26 million shares or 9.5 per cent  stake in NTPC through the single-day auction, as part of its drive to raise Rs 27,000 crore by selling shares in some state enterprises in the 2012/13 fiscal year.
 
Ahead of the share sale, NTPC shares closed at Rs. 151.80 rupees on Wednesday, down 2.4 per cent  in a weak Mumbai market.

(Reuters)