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India's NTPC share auction floor price set at 4.5 pct discount
February 6, 2013 / 11:17 AM / in 5 years

India's NTPC share auction floor price set at 4.5 pct discount

MUMBAI, Feb 6 (Reuters) - The floor price for state-run power utility NTPC Ltd’s share sale, scheduled for Thursday, has been set at 145 rupees, or a 4.5 percent discount to its Wednesday’s close, said the company, valuing the sale at about $2.14 billion.

The government expects to raise $2.25 billion from the offer, the disinvestment secretary has said.

The Indian government will sell a 783.26 million shares or 9.5 percent stake in NTPC through the single-day auction, as part of its drive to raise 270 billion rupees ($5.1 billion) by selling shares in some state enterprises in the 2012/13 fiscal year.

Ahead of the share sale, NTPC shares closed at 151.80 rupees on Wednesday, down 2.4 percent in a weak Mumbai market. ($1 = 53.13 rupees) (Reporting by Prashant Mehra; Editing by Anand Basu)

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