NTPCwhich had its OFS or offer for sale for 78,32,62,880 equity shares was oversubscribed receiving bids for a whopping 132,84,55,619 shares at an average indicative price of Rs 145.91 which is 9.5% of the paid up capital. The floor price fixed for the sale was Rs 145. The share price of NTPC closed at Rs 148.15 against the previous day’s close of Rs 152.30.

The final price at which shares would be allotted would be in a range of Rs 146 upwards to Rs 147. The issue would have garnered roughly Rs 11,450 crs for the government.

The breakup of bids for those bidding with 100% margin is 63.50 crs shares while those bidding with 0% margin are 69.34 cr shares. The issue has been successful and the p[rice of Rs 145 would become a support price for the share going forward.

With this divestment the government would have raised roughly 2/3rd of the projected Rs 30,000 crs targeted from divestment this year.