Disinvestment dept to make NTPC FPO presentation on Dec 15

Disinvestment dept to make NTPC FPO presentation on Dec 15 Kolkata: The Department of Disinvestment (DoD) will make a presentation to the government on December 15 for the proposed follow-on-offer of NTPC Ltd targetting to raise around Rs 13,000 crore.

Announcing this at the sidelines of PanIIT Global conference here on Sunday, NTPC Chairman and Managing Director Arup Roy Choudhury expressed optimism that the Follow-on Public Offer (FPO) would be completed within March.

On November 22, the government had approved sale of its 9.5 percent stake in the country's largest power producer NTPC.

The Cabinet Committee on Economic Affairs (CCEA), at its meeting that day gave the green signal for NTPC disinvestment by way of offer for sale through stock exchanges.

After the disinvestment, Government of India's shareholding in the company would come down to 75 percent.

Referring to the 1,320 MW coal-fired power project being set up in Bangladesh by NTPC at a cost of USD 1.5 billion, Roy Choudhury said the project was on schedule.

PTI