Business Standard

Govt to sell 3.5% stake in NHPC at Rs 66 a share beginning Thursday

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

Divestment, privatisation, stake sale, disinvestment

At the floor price, the OFS would fetch about Rs 2,300 crore to the exchequer

Press Trust of India New Delhi

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The government on Wednesday said it will sell a 3.5 per cent stake in power producer NHPC at a floor price of Rs 66 a share, which will garner Rs 2,300 crore to the exchequer.
"Offer for sale in NHPC opens tomorrow for non-retail investors. Retail investors can bid on Friday. The government will divest 3.5 per cent equity, including Greenshoe option of 1 per cent," the Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on X.
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 Rs 66 a share is at a discount of 9.66 per cent over Wednesday's closing price of NHPC shares.
At the floor price, the OFS would fetch about Rs 2,300 crore to the exchequer.
Shares of NHPC closed at Rs 73.06 apiece, up 0.90 per cent on the BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 17 2024 | 10:45 PM IST

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