Enthusiastic response from Employees of NTPC Limited with nearly 50% participating in the Offer for Sale of NTPC Limited

The Offer for Sale for Employees of NTPC Limited got an enthusiastic response from the employees with nearly 50% participating in the Offer. Employees took the opportunity and applied for 85.30% of 2,06,13,661 shares on offer for allotment. This is one of the highest employees participation in post OFS disinvestment process of any company. The employees participation in the disinvestment process of Government of India, gives a sense of belongingness to the company. The offer of shares by Government to eligible employees of NTPC Limited was carried out from 27.06.2016 to 05.07.2016. The Government has realized Rs.203.78 crore.

The employee offer was made pursuant to the decision of the Government to disinvest 5% paid up equity out of Government of India shareholding in NTPC Limited, on 13.05.2015. The Government had approved that shares may also be allotted to the eligible and willing employees of the Company up to a maximum of 0.25% of the paid up equity capital at a discount of 5%.

The OFS of NTPC Limited was successfully completed on 24th February, 2016. The total realization was Rs.5,014.55 crore. The lowest cut off during the OFS was Rs.122/- per share. Accordingly, after 5% discount the offer price for employees was Rs.115.90 per share.

Source-B&F