NTPC offers 2.74 cr equity shares to employees

NTPC offers 2.74 cr equity shares to employees
07/09/2017 , by , in ALLIED

State-run power giant NTPC today said it has offered 2.74 crore equity shares to its employees at a discounted price of Rs. 159.60 per scrip.

The discounted price was fixed after factoring in 5 per cent discount to the cut off price of Rs. 168, discovered through the Offer For Sale of equity shares of NTPC carried out by the government on August 29-30.

“In accordance with approval accorded by AM, Government of India (GOI) has offered 2,74,02,498 Equity Shares of Rs. 10 each to the eligible employees of NTPC Ltd at discounted price of Rs.159.60 per share,” NTPC said in a BSE filing today.

GOI sold 7 per cent stake in the company, fetching about Rs. 9,100 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 September 11-13.

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