The government’s Offer for Sale (OFS) in National Hydroelectric Power Corporation (NHPC) Limited saw an oversubscription of 3.47 times on the initial day of bidding for non-retail investors. The entire 3 per cent greenshoe option was exercised, as per a regulatory filing on Tuesday.
The total stake available was increased from 3 per cent to 6 per cent during the sale, which commenced with a floor price of Rs 71 per share. Allocation of shares will be done based on price priority.
Retail investors and eligible employees are set to participate in the OFS on June 3. A portion of 6,02,70,210 Equity Shares, equivalent to 10 per cent of the offer, is reserved for Retail Investors, subject to valid bids.
Moreover, eligible employees can apply for equity shares up to Rs 5 lakh. The OFS, aimed at contributing to the Centre’s disinvestment goals for FY27, is being conducted through stock exchanges.
Shares of NHPC concluded 6.9 per cent lower at Rs 71.93 per share on the NSE. NHPC, a leading hydropower and renewable energy company, operates as a Navratna public sector undertaking under the Ministry of Power.
A significant development in Jammu and Kashmir’s power sector was marked by NHPC with the successful initiation of the first blast for the 240 MW Uri-I Stage-II Hydro Electric Project earlier this week. NHPC is actively engaged in various large-scale projects in Jammu and Kashmir, including joint ventures like Chenab Valley Power Projects Limited (CVPPL) and Ratle Hydroelectric Power Corporation Limited (RHPCL).
