NTPC offers 2.74 crore equity shares to employees
New Delhi, September 6: The State-run power giant National Thermal Power Corporation Ltd. today said that it would offer 2.74 crore equity shares to its employees at a discounted price of Rs 159.60 per scrip. The discounted price was fixed after dividing in 5% discount to the cut off price of Rs 168.
This discounted price was discovered through the Offer For Sale of equity shares of National Thermal Power Corporation carried out by the government on august 29 and August 30. According to media reports, National Thermal Power Corporation Ltd. said in a BSE filing today that “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 National thermal Power Corporation Ltd at discounted price of Rs 159.60 per share.”
The 7% stake in the country’s largest power producer was sold by the Government of India, fetching about Rs 9,100 crore to the exchequer. The company has begun the process sale of equity shares to the eligible employees. The offer for sale of share will remain open from 11-13 September.