FIIs corner 45% of NTPC share sale

Strong participation by foreign investors in the disinvestment process continued with foreign institutional investors (FIIs) cornering 44.92 per cent of the share allocated in the NTPC offer for sale (OFS) on Thursday.

According to data released by the finance ministry on Friday, FIIs contributed Rs 5,152.55 crore of the total Rs 11,469.39 crore proceeds generated from the OFS.

A total of 783,262,880 shares were sold at the cut-off price of Rs 145.55 against the floor price of Rs 145 per share fixed by the Empowered Group of Ministers (EGoM) held on February 5, the ministry said.

The realisation has been at an average price of Rs 146.43 per share and the issue has been subscribed 1.70 times.

The government divested 9.5 per cent stake in NTPC through the OFS.

Other segments that took substantial chunks of the OFS include, insurance at 24.87 per cent and banks with 11.05 per cent. Mutual funds cornered 8.35 per cent of the shares on offer.