The government's share sale in state-run power producer NTPC Ltd to raise roughly USD 2 billion is likely to take place on February 7, three sources with direct knowledge of the situation said on Friday.
The government's share sale in state-run power producer NTPC
The government, which owns 84.5 percent of NTPC, plans to sell a 9.5 percent stake in the company to institutional investors through an auction of shares.
The floor prices for the auction is likely to be announced a day ahead of the sale, said the sources, who declined to be named as they were not authorised to speak to the media.
Officials at the Department of Disinvestment, responsible for handling state stake sales, could not immediately be reached for a comment.
NTPC stock price
On December 19, 2014, at 11:57 hrs NTPC was quoting at Rs 135.15, up Rs 2.20, or 1.65 percent. The 52-week high of the share was Rs 168.80 and the 52-week low was Rs 110.90.
The company's trailing 12-month (TTM) EPS was at Rs 12.40 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 10.9. The latest book value of the company is Rs 104.08 per share. At current value, the price-to-book value of the company is 1.30.
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