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NTPC public offer to open on Feb 3

Mumbai: State-run power utility NTPC will open its public offer to divest five percent of the government's stake on Feb 3, while the pricing band will be decided a day earlier, the company said today. NTPC, the country's largest power generation firm, will offer 412,273,220 equity shares of Rs.10 each, with the issue to close on Feb 5. "The floor price and the minimum bid lot for the offer will be decided at least one day prior to the opening of the offer. A total of 42,73,220 equity shares are reserved for NTPC employees," the company said in a statement The government currently owns about 89.5 percent of NTPC's equity. ICICI Securities, Citigroup Global Markets, JP Morgan and Kotak Mahindra Capital are the book running lead managers to the offer. (IANS)