MUMBAI Feb 7 A $2.1 billion share auction in
state-run power utility NTPC Ltd was fully covered on
Thursday, provisional data from the Bombay Stock Exchange
By 3:05 p.m. (0935 GMT), the single-day auction had received
bids for 840.65 million shares at an indicative weighted average
price of 145.46 rupees per share. Final bid numbers will be
available later on Thursday.
The government was selling 783.26 million shares, or 9.5
percent of the company's stock, at a minimum price of 145 rupees
per share for bids.
Under new rules announced last month, India's markets
regulator allows bidders at share auctions to modify or cancel
their orders if they deposit 100 percent of their order value
upfront. Investors who bid without making a deposit are only
allowed to make upward changes to their bids.
(Reporting by Prashant Mehra; Editing by Ranjit Gangadharan)