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NTPC Divestment Offer Over-Subscribed; Gets 19400 Cr.

PUBLISHED BY: SURENDER KUMAR
FEBRUARY 09, 2013

   
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The NTPC offer of sale has been over-subscribed with the issue garnering about Rs 19,400 crore. Through this issue, the government plans to collect Rs. 11400 Cr by selling 78.3 crore shares @ Rs 145.91 each.

 

This is the government's third divestment in the current fiscal which has a target of Rs 30,000 crore. Earlier Rs 3,100 crore was collected by divesting stake in Oil India and Rs 5,900 crore through an offer for NMDC. So far, the government has mobilized Rs 20,000 crore though divestments, which is about 67% of its target.

 

In the next eight weeks, the government expects to mobilize another Rs 5,000-7,000 crore through more PSU divestments. Meeting this goal would help it meet its fiscal deficit target of 5.3% of GDP.

 



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