New Delhi: The government’s Offer for Sale (OFS) in National Hydroelectric Power Corporation (NHPC) Limited was oversubscribed 3.47 times on the first day of bidding for non retail investors, and it exercised the entire 3 per cent greenshoe option, a regulatory filing said on Tuesday.
The total stake on offer was raised to 6 per cent from the original 3 per cent. The sale, launched with a floor price of Rs 71 per share, will allocate shares on a price priority basis.
Retail investors and eligible employees will be able to participate in the OFS on June 3.
“A total of 6,02,70,210 Equity Shares i.e. 10 per cent equity shares of the offer would be reserved for Retail Investors, subject to receipt of valid bids,” the statement noted.
Additionally, up to 45,20,265 equity shares may be offered in addition to the 45,20,265 Equity Shares aggregating up to 90,40,530 equity shares of the company offered under the Employee Offer to the eligible employees of the Company.
Eligible employees may apply for equity shares up to Rs 5 lakh. The OFS is being conducted through the stock exchanges to contribute towards the Centre’s disinvestment objectives for FY27.
Notably, shares of NHPC on Tuesday closed 6.9 per cent lower at Rs 71.93 per share on the NSE.
India’s leading hydropower and renewable energy company NHPC is a Navratna public sector undertaking under the Ministry of Power.
A major milestone for Jammu and Kashmir’s power sector was achieved with the successful execution of the first blast for the 240 MW Uri-I Stage-II Hydro Electric Project by NHPC earlier this week, marking the formal commencement of key construction activities.
NHPC is also executing multiple large-scale projects in Jammu and Kashmir, largely through joint ventures such as Chenab Valley Power Projects Limited (CVPPL) and Ratle Hydroelectric Power Corporation Limited (RHPCL).
(IANS)
