The government has divested 5% of its equity in NTPC, India’s largest state-run power producer, raising US$731 million through an offer for sale (OFS). The sale reduces the state’s share in NTPC to 69.96%.
The transaction is the second largest OFS for an Indian company in the past 12 months after Indian Oil Corporation’s US$1.4 billion OFS in August 2015. It is also the first OFS under the revised OFS guidelines of the Securities and Exchange Board of India, issued on 15 February.
Preparing for India’s multi-agency dawn raids: Building response architecture, preserving privilege and documenting every step
Preparing for India’s multi-agency dawn raids: Building response architecture, preserving privilege and documenting every step
Life insurers’ digital shift demands stronger legal oversight to protect customer data and cyber resilience
Shared venture documentation gaps slow India funding rounds and shape foreign capital perceptions of ecosystem maturity
To what extent does party autonomy hold sway over contracts that involve exceptional or prohibited clauses?
