NHPC OFS: Retail portion undersubscribed

The Centre sold around 11.3% stake in the power generator to raise around Rs 2,700 cr

Shares reserved for retail investors in the NHPC offer for sale garnered just 58 per cent subscription on Thursday. The retail portion saw bids for 145.8 million shares as against 251.5 million on offer. NHPC offer for sale (OFS) was the first disinvestment by the government of fiscal 2016-17.

The Centre sold around 11.3 per cent stake in the power generator to raise around Rs 2,700 crores. Despite under subscription in the retail segment, the government will be able to mop up the desired amount thanks to oversubscription in the non-retail segment.

Read more from our special coverage on "NHPC"

• NHPC share sale garners 1.56 times subscription
• NHPC begins stake sale; stock down over 5%
• Centre to sell 11.36% stake in NHPC today
• Govt to sell 11.36% stake in NHPC, may raise Rs 2,700 crore
• NHPCs Parbati-III plant resumes power generation

On Wednesday, the non-retail segment had garnered 1.55 times subscription thanks to bids by state-owned investors including Life Insurance Corporation (LIC).