State-run power giant NTPC on Wednesday said it has offered 27.4 million equity shares to its employees at a discounted price of Rs 159.60 per scrip.
The discounted price was fixed after factoring in 5 per cent discount to the cut off price of Rs 168, discovered through the Offer For Sale of equity shares of NTPC carried out by the government on August 29-30. ICICI Lombard IPO: Know The Details
"In accordance with approval accorded by AM, Government of India (GOI) has offered 2,74,02,498 Equity Shares of Rs 10 each to the eligible employees of NTPC Ltd at the discounted price of Rs 159.60 per share," NTPC said in a BSE filing on Wednesday.
GOI sold 7 per cent stake in the country's largest power producer, fetching about Rs 9,100 crore to the exchequer.
The company has initiated the process sale of equity shares to the eligible employees. The offer for sale of share will remain open from September 11-13. IPO Alert: These Four IPO's To Hit The Market