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Government stake in NTPC drops to below 63%

LiveMint logoLiveMint 20-09-2017 PTI

New Delhi: Government stake in state-owned power giant NTPC Ltd has come down to 62.99%, from 63.11%, after the company issued shares to its employees.

“With the allotment and transfer of 94,69,848 shares to employees, the Government of India’s holding in NTPC has come down from 520,36,08,726 equity shares i.e. 63.11% of total paid-up capital to 519,41,38,878 equity shares i.e. 62.99% of total paid-up capital,” the NTPC said in BSE filing on Wednesday.

The offer to the eligible employees of NTPC Ltd was opened from September 11 to 13. The government had last month sold 7% stake in the country’s largest power producer, fetching about Rs9,100 crore to the exchequer. The applications from the eligible employees were received by the NTPC Ltd during the offer period and allotment of 94,69,848 equity shares to 4,585 successful eligible employees was made on 19 September, it added.

The company is the largest public sector power generator in the country having installed capacity of over 50,000 MW.

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