scorecardresearch
Follow Us:
Saturday, May 28, 2022

NTPC FPO next fiscal,govt to divest 10%

Govt is looking at divesting another 10% stake in the largest power generation company NTPC.

Written by Agencies | New Delhi |
August 30, 2009 1:49:00 pm

With improvement in the stock market,the Government is looking at divesting another 10 per cent stake in the largest power generation company NTPC,which may also raise fresh equity to part finance its expansion programme.

According to sources close to the development,NTPC is likely to hit the capital market with a follow-on public offer to raise nearly Rs 6,000 crore early next fiscal.

The Government would divest 10 per cent of its stake and 10 per cent would be the fresh equity offered by NTPC. After the follow-on public offer (FPO) the government’s holding in the company would come down to nearly 80 per cent from the current 95 per cent.

NTPC has sent the proposal to the Power Ministry from where it will go to the Cabinet for approval. Following this,the company will file the draft prospectus with the market regulator SEBI,officials said,adding that the entire process would take about 6-8 months.

Best of Express Premium

Weekly Horoscope, May 29, 2022 – June 4, 2022: Libra, Aries, Pisces and o...Premium
Heat rising over Kerala rally, PFI in no mood to backtrack on ‘camp...Premium
‘Monetisation’ axed, MeitY’s fresh draft to ‘encourage’ cos to share non-...Premium
Supreme Court directions on sex workers: history of the case, and where i...Premium

Going by this,the FPO is not possible this fiscal,but may be early next year,a company official said.

However,he refused to divulge any further details.

NTPC has earmarked a capital expenditure of Rs 60,000 crore for the current plan period.

For all the latest News Archive News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
Advertisement
Advertisement
Advertisement
Advertisement