India to sell up to 5 pct stake in state-run Container Corp | Reuters

MUMBAI India will sell an up to 5 percent stake in state-run Container Corp as part of the government's asset sales programme, in a deal that could fetch about $170 million.

The government, which owns 61.8 percent of Container Corp, is selling up to 9.75 million shares starting Wednesday at a floor price of 1,195 rupees ($17.76) per share, according to a regulatory filing.

Institutional investors can bid for the shares on Wednesday and Thursday in an auction on the stock exchanges, while retail investors can place bids on Thursday.

The government last month raised about $730 million from a share sale in power producer NTPC Ltd. ($1 = 67.3292 rupees)

(Reporting by Devidutta Tripathy; Editing by Anand Basu)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Mar 08, 2016 23:45 PM

Also Watch

Watch: Firstpost test rides the new Thunderbird 500X in Goa and walks you through the Royal Enfield Garage Cafe
  • Tuesday, April 17, 2018 Varun Dhawan on Shoojit Sircar's October, 5-star reviews and working with Anushka Sharma in Sui Dhaaga
  • Saturday, April 14, 2018 Ambedkar Jayanti: Re-visiting Babasaheb's ideals exposes fake Dalit politics of Rahul Gandhi and Congress
  • Monday, April 9, 2018 48 hours with Huawei P20 Pro: Triple camera offering is set to redefine smartphone imaging
  • Monday, April 16, 2018 Rajyavardhan Singh Rathore interview: Sports can't be anyone's fiefdom, we need an ecosystem to nurture raw talent

Also See