The government has divested 5% of its equity in NTPC, India’s largest state-run power producer, raising US$731 million through an offer for sale (OFS). The sale reduces the state’s share in NTPC to 69.96%.
The transaction is the second largest OFS for an Indian company in the past 12 months after Indian Oil Corporation’s US$1.4 billion OFS in August 2015. It is also the first OFS under the revised OFS guidelines of the Securities and Exchange Board of India, issued on 15 February.
You must be a
subscribersubscribersubscribersubscriber
to read this content, please
subscribesubscribesubscribesubscribe
today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.