Mumbai, Oct 8: The Indian government plans to sell its 5 per cent stake in power producer NTPC Ltd, through a follow on public offering in Jan, an Economic Times reported on Thursday, Oct 8.
"The proposal is likely to come up for approval by the Cabinet Committee on Economic Affairs at its meeting", a government official was quoted as saying.
"The details of the issue would be finalised by Nov 2009 and the follow-on offer may hit the market in the second half of Jan 2010," the report said.
The NTPC stock closed up 0.2 percent at 209 rupees on Wednesday, Oct 7. The government holds 89.5 percent stake in the company, which has a market cap of USD 36.9 billion.