Govt eyes ₹4,600 cr from NHPC OFS as it gets subscribed 3.47 times on Day 1; exercises full greenshoe option
Key points
- New Delhi: The government's Offer for Sale (OFS) in NHPC Ltd received a strong response from investors on the first day, with the issue being subscribed 3.47 times, prompting the Centre to exercise the entire greenshoe option.
- The government had on Monday announced the OFS with a base offer of 3% of its equity in NHPC and an additional 3% greenshoe option in the event of oversubscription.
- The floor price for the offer was fixed at ₹71 per share, a discount of about 8% to the stock's previous closing price of ₹77.19. At the floor price, the stake sale is expected to fetch up to about ₹4,650 crore.
- NHPC, a navratna public sector undertaking, is India's leading hydropower producer with a growing presence in solar and wind energy projects.
- Taking to the social media platform X, the department of investment and public asset management (Dipam) secretary Arunish Chawla said that...
Quick Summary
New Delhi: The government's Offer for Sale (OFS) in NHPC Ltd received a strong response from investors on the first day, with the issue being
Why It Matters
This development is important because it may impact public opinion, policy decisions, and future developments related to Govt eyes ₹4,600 cr from NHPC OFS as it gets subscribed 3.47.
Key Takeaways
- The government had on Monday announced the OFS with a base offer of 3% of its equity in NHPC and an additional 3% greenshoe option in the event of oversubscription.
- The floor price for the offer was fixed at ₹71 per share, a discount of about 8% to the stock's previous closing price of ₹77.19.
- At the floor price, the stake sale is expected to fetch up to about ₹4,650 crore.
- NHPC, a navratna public sector undertaking, is India's leading hydropower producer with a growing presence in solar and wind energy projects.
- Taking to the social media platform X, the department of investment and public asset management (Dipam) secretary Arunish Chawla said that the OFS attracted participation from investors, with bids exceeding the shares on offer by 3.47 times on the first day.
📌 Source: LiveMint
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