Govt to sell 3.5% in NHPC via OFS at Rs 66 per share from January 18

Govt to sell 3.5% in NHPC at Rs 66 a share beginning January 18

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.