NTPC FPO may hit the markets soon
NTPC may use FPO fast track to raise Rs 11000 crore by divesting 5% of Government stake in the company. The Follow-on Public Offer (FPO) of National Thermal Power Company (NTPC) may hit the markets next month. NTPC will use the fast track route provided by SEBI for its FPO and as per the rule the company may also not require SEBI nod.
NTPC will file the prospectus in the third week of January and the issue will be open for subscription immediately. Market regulator SEBI had relaxed the guidelines for follow-on public offers (FPO) just last week itself. This will facilitate the forthcoming share sales in by state-run blue chip firms.
NTPC share’s CMP is Rs 207.70 on 21st Dec 09.
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