In the first case of divestment under the United Progressive Alliance regime, government will file the draft prospectus next week for sale of its equity in National Thermal Power Corp, Power Minister P M Sayeed said on Friday.
"I have signed the papers. The draft prospectus will be filed with market regulator SEBI (Securities and Exchange Board of India) on Tuesday," Sayeed told PTI.
The Divestment Development: Complete Coverage
Elaborating on the process, the minister said NTPC would now file a combined prospectus for selling 5.25 per cent government stake and initial public offer for an equal quantity.
Asked when NTPC would hit the market, Sayeed said, "We are looking at mid-September."
About the delay, he said, "There is no delay as we have always said that depending on the market conditions, we shall plan our issue."