Government to offer 50.5 lakh equity shares in NHPC to eligible employees through OFS

In the previous week, the government had sold 3.5 percent stake or 35.15 crore equity shares in NHPC through OFS to institutional and retail investors.

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NHPC announced the government will offer 50.5 lakh equity shares at Rs 71 per equity share through an Offer For Sale to eligible employees in the company.

In the regulatory filing, NHPC said the date of the OFS would be intimated in due course of time.

On Janury 24, the NHPC stock surged 6.91 percent and closed at Rs 81.2.
In the previous week, the government had sold 3.5 percent stake or 35.15 crore equity shares in NHPC through OFS to institutional and retail investors.

The institutional portion was opened on January 18 and received 91 crore bids for 31 crore shares on offer. The retail portion was open on January 19 and got bids for 7.6 crore shares against 3.51 crore shares on offer.

According to the shareholding pattern, the government held 70.95 percent stake in NHPC as of December 2023.

In its Q2 results, NHPC’s consolidated net profit rose by 0.7 percent to Rs 1,546 crore while its revenue grew by 11.6 percent to Rs 2,931.3 crore. NHPC is set to announce its Q3 results on February 12, 2024.Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.