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NTPC FPO opens; should you subscribe?
India's largest thermal power production company, NTPC's FPO (follow on public issue), which has opened for subscription, has been subscribed 0.7 times so far, reports CNBC-TV18.
The employees will get the shares at Rs 191/share, a discount of Rs 10/share to floor price. Of the FPO, a total of 4,273,220 equity shares are reserved for NTPC employees.
The minimum bidding lot is of 28 shares and in multiples of 28 shares thereafter.
The offer marks a divestment of 5% in NTPC by the President of India acting through the Ministry of Power. Prior to this Offer, the GoI owned approximately 89.5% of NTPC's Equity Share capital.
ICICI Securities Limited, Citigroup Global Markets India Private Limited, JP Morgan India Private Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the Offer and Karvy Computer Share Private Limited is the Registrar.
