India’s largest power producer NTPC Ltd is likely to divest 25% of its green energy arm through a public offering this year after shelving a plan to sell the stake to Malaysia’s Petronas, a person familiar with the matter said on Thursday.
Petronas had offered $460 million for a 20% stake in NTPC Green Energy, outbidding local Indian firms with an offer of 27.52 rupees ($0.3362) per share, Reuters reported last month.
India’s largest power producer NTPC Ltd is likely to divest 25% of its green energy arm through a public offering this year after shelving a plan to sell the stake to Malaysia’s Petronas, a person familiar with the matter said on Thursday.
Petronas had offered $460 million for a 20% stake in NTPC Green Energy, outbidding local Indian firms with an offer of 27.52 rupees ($0.3362) per share, Reuters reported last month.
Bloomberg News reported earlier on Thursday that Petronas withdrew its earlier offer saying a 20% stake was too small and would not give it a seat on the unit’s board.
Source: Reuters.com