The Government aims to garner Rs. 5,000 crore via 5% stake sell in the state-run power company through an OFS. The OFS will be closed tomorrow February 24. Retails investors, for whom 20% shares have been reserved, will get to bid on February 24.
The offer for sale (OFS) from NTPC Ltd, which opened today for subscription, has received bids for 43,20,52,292 shares in the non-retail portion as against the non-retail issue size of 32,98,18, 576 shares, which is 1.31times more.
The Government aims to garner Rs. 5,000 crore via 5% stake sell in the state-run power company through an OFS. The OFS will be closed tomorrow February 24. Retails investors, for whom 20% shares have been reserved, will get to bid on February 24.
After the market regulator Sebi revised the OFS guidelines, NTPC is the first company to come up with an OFS. The floor price for NTPC’s OFS is Rs. 122 a share.
“The floor price for the offer shall be Rs 122 per equity share," NTPC said in a regulatory filing. "Retail investors shall be allowed to place their bids only on the T+1 day. Further, those non-Retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day, shall be allowed to revise their bids on T+1 day as per the SEBI OFS Circulars,” NTPC said in a statement.
The Government aims to garner Rs. 5,000 crore via 5% stake sell in the state-run power company through an OFS. The OFS will be closed tomorrow February 24. Retails investors, for whom 20% shares have been reserved, will get to bid on February 24.
After the market regulator Sebi revised the OFS guidelines, NTPC is the first company to come up with an OFS. The floor price for NTPC’s OFS is Rs. 122 a share.
“The floor price for the offer shall be Rs 122 per equity share," NTPC said in a regulatory filing. "Retail investors shall be allowed to place their bids only on the T+1 day. Further, those non-Retail investors who have placed their bids on T day and have chosen to carry forward their bids to T+1 day, shall be allowed to revise their bids on T+1 day as per the SEBI OFS Circulars,” NTPC said in a statement.
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