update 10 Feb 2010: NTPC FPO was a disappointment with the Govt. of India selling equity at a much lower price than what it could have been sold for. If the promoter values the shares for less, external investors will also give it even lesser value. If the FPO floor price was fixed at Rs 225 than Rs 201, I believe it would have done better.

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NTPC FPO share price target
=1000000/(82454*5%)
= Rs 242 (if target is Rs 10,000 cr from the 5% equity sale)

=1100000/(82454*5%)
= Rs 266 (if target is Rs 11,000 cr from the 5% equity sale)

The current market price at Rs 230.