The government today went into an introspection mode after the NTPC follow-on public offer (FPO) evoked tepid response from investors, but said there would be no change in the policy.
“Response for NTPC FPO should have been better,” Power Secretary H S Brahma said on the sidelines of an NTPC event. He said: “There is something wrong with us, why has the FPO been unsuccessful.”
On being asked whether government would abandon the pure auction route for the FPO of Rural Electrification Corp (REC), he said: “There will be no change in our policy for the REC offer.” NTPC came out with an FPO earlier this month through which the government divested five per cent of its equity in the PSU.