The government today announced the floor price for its offer for sale of 5% of the equity in NTPC. The floor price is Rs 201 which is a discount of Rs 10.25 per share or 4.85% on Monday’s close of Rs 211.25 on the BSE.
Retail investors and HNI’s will be offered half the issue at this floor price while the remaining half will be offered by French Auction to QIB’s. The stock markets were trading higher during the first few hours of trading at the time of writing this article with the BSESENSEX up 61 points at 16417 at 11.15 am, but the stock price of NTPC is down Rs 3.65 or 1.72% at Rs 207.65.
The issue opens on Wednesday the 3rd of February and closes on Friday the 5th of February. Institutional bidding and all action from retail and HNI’s is expected on Friday. The bids by QIB’s cannot be revised downwards in terms of quantity or price but can be revised upwards in either or both cases.
Discount of Rs 10 per share to NTPC employees.
More on this issue tomorrow.
Infinite Computer Solutions Limited which had received overwhelming response during its IPO and was subscribed over 43 times with the Non-institutional portion being subscribed over 100 times is to list on Wednesday the 3rd of February. Shares were offered in a price band of Rs 155-165 and the discovered price is Rs 165.
Jubilant Foodworks Limited, the master franchisee of Domino’s Pizza for India, Bangladesh, Sri Lanka and Nepal which had recently come out with an IPO is to list on Thursday the 4th of February 2010. The issue which had a price band of Rs 135-145 was subscribed over 31 times. The discovered price is Rs 145.
