NTPC offers 2.74 crore equity shares to employees
New Delhi: State-run power giant NTPC on Wednesday said it has offered 2.74 crore equity shares to its employees at a discounted price of Rs159.60 per scrip.
The discounted price was fixed after factoring in 5% discount to the cut off price of Rs168, discovered through the Offer For Sale of equity shares of NTPC carried out by the government on 29-30 August.
“In accordance with approval accorded by AM, Government of India (GOI) has offered 2,74,02,498 Equity Shares of Rs10 each to the eligible employees of NTPC Ltd at discounted price of Rs159.60 per share,” NTPC said in a BSE filing today.
GOI sold 7% stake in the country’s largest power producer, fetching about Rs9,100 crore to the exchequer. The company has initiated the process sale of equity shares to the eligible employees.
The offer for sale of share will remain open from 11-13 September.