National Thermal Power Corporation (NTPC) Limited, the largest power generation company in India, is going to come up with a Follow-on Public Offer (FPO) The Company is likely to adopt French Auction route for the pricing of FPO. The FPO would consist of 412,273,220 equity shares of Rs 10 each.
A French Auction is a uniform-price auction used for pricing initial public offerings in France. In this offering, the firm announces a minimum (reserve) price. Investors place sealed bids for quantity and price. When the bids are in, the firm negotiates a minimum and maximum price with the market regulator
Any bid above the maximum price is eliminated as a virtual market order. The bidders who bid between the minimum and maximum price are awarded shares on a pro rata basis, each paying the minimum price.
Sunday, January 24, 2010
NTPC may adopt French Auction for FPO
Tags
# French Auction
# IPO in 2010
# IPO in February 2009
# IPO News
# IPO Updates
# National Thermal Power Corporation FPO
# NTPC FPO
# NTPC Ltd. FPO
# Upcoming IPO
# Upcoming issues
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