The Life Insurance Corporation of India (LIC) bought a majority of shares in a 5 percent NTPC stake sale worth $730 million. Although LIC ended up buying 59 percent - or 243.15 million of the 412.27 million shares on offer - overall institutional demand, including that from foreign investors, was strong with bids worth 2-1/2 times the shares on offer. But retail investors ended up buying only 44 percent of the shares allotted to them.
Readers' Choice
The Bengal Fracture: How BJP Scripts Making Mamata Politically Redundant
FIR lodged against ex-Rera chief Baldi on former CS Gupta’s complaint
L K Atheeq appointed Financial Advisor to Karnataka CM; T G Nath Add CS
Former Himachal Pradesh CS Appointed Chairperson of PSERC
K K Pant gets additional charge of Himachal Chief Secretary
LIC buys up 59% of NTPC's OFS
By IndianMandarins - 2016-02-26 23:16:19
The Life Insurance Corporation of India (LIC) bought a majority of shares in a 5 percent NTPC stake sale worth $730 million. Although LIC ended up buying 59 percent - or 243.15 million of the 412.27 million shares on offer - overall institutional demand, including that from foreign investors, was strong with bids worth 2-1/2 times the shares on offer. But retail investors ended up buying only 44 percent of the shares allotted to them.
