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India's $2 bln sale of NTPC shares likely on Feb 7-sources
January 25, 2013 / 12:51 PM / 5 years ago

India's $2 bln sale of NTPC shares likely on Feb 7-sources

MUMBAI, Jan 25 (Reuters) - The Indian government’s share sale in state-run power producer NTPC Ltd to raise roughly $2 billion is likely to take place on Feb. 7, three sources with direct knowledge of the situation said on Friday.

The government, which owns 84.5 percent of NTPC, plans to sell a 9.5 percent stake in the company to institutional investors through an auction of shares.

The floor prices for the auction is likely to be announced a day ahead of the sale, said the sources, who declined to be named as they were not authorised to speak to the media.

Officials at India’s Department of Disinvestment, responsible for handling state stake sales, could not immediately be reached for a comment. (Reporting by Sumeet Chatterjee; Editing by Tony Munroe)

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