In a strategic move, the government on Wednesday (January 17) set in motion a stake sale plan for
state-owned power producer NHPC Ltd, intending to divest a 3.5% stake through an Offer for Sale (OFS) at ₹66 per share.
The OFS includes a base size of 2.5%, with an additional 1% offered through the Green Shoe option. The offering is scheduled to open for non-retail investors on January 18, followed by the retail investor segment on January 19.
As part of the OFS, the government will sell over 25 crore equity shares in NHPC, with a greenshoe option to sell 10 crore more.
The floor price of ₹66 a share is at a discount of 9.66% over Wednesday's closing price of NHPC shares. At the floor price, the OFS would fetch about ₹2,300 crore to the exchequer.
Shares of
NHPC Ltd ended at ₹73.06, up by ₹0.65, or 0.90% on the BSE.
First Published: Jan 17, 2024 10:26 PM IST