Feb 09, 2013, 11.27 AM | Source: PTI
Sovereign wealth fund GIC of Singapore has cornered shares worth Rs 1,000 crore in NTPC divestment in which foreign funds bought almost 45 per cent of shares put on sale.
The blockbuster share sale yesterday was over-subscribed 1.7 times. The offer price was lower than the scrip's trading rate on stock exchanges and the issue received tremendous response from foreign investors.
The government had fixed the floor price or the minimum offer price at Rs 145 apiece. The indicative price, which is the weighted average price of all valid bids, came in at Rs 145.91 at the close of auction.
The total demand received for the offer was for 132.84 crore shares, which is 1.7 times of the 78.32 crore shares or 9.5 per cent stake on the block. Government holding will now come down to 75 per cent in NTPC.
Citigroup, Morgan Stanley, Goldman Sachs, Deutsche Equities, Kotak Securities and SBI Cap Securities are acted as the merchant bankers for the stake sale.
The total proceeds realised from disinvestment would be over Rs 21,500 crore so far this fiscal, with the success of NTPC issue helping government inch towards the Rs 30,000 crore budgeted target.
Receipts from the stake sale would also help government restrict its fiscal deficit at 5.3 per cent of GDP in the ongoing fiscal.
NTPC stock price
On June 24, 2016, NTPC closed at Rs 149.10, up Rs 0.05, or 0.03 percent. The 52-week high of the share was Rs 154.90 and the 52-week low was Rs 107.20.
The company's trailing 12-month (TTM) EPS was at Rs 12.42 per share as per the quarter ended March 2016. The stock's price-to-earnings (P/E) ratio was 12. The latest book value of the company is Rs 111.46 per share. At current value, the price-to-book value of the company is 1.34.
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