NTPC is currently the top loser on the BSE, down over 4% at Rs.166. The stock’s 52-week high and low stands at Rs179 and Rs.143.45 respectively.
The stock is down as the market is not happy with the PSU’s offer for sale price. It will be selling 5% stake in NTPC at Rs.168 per share to raise about Rs 7,000 crore.
The OFS began today and will happen till tomorrow.
The floor price was set at Rs.168, which is at a discount of 3% over yesterday’s closing stock price.
The government has so far this fiscal raised over Rs.8,800 crore through disinvestment in six companies while the target is Rs.72,500 crore targeted to be raised in current fiscal through stake sale in PSUs.