 "Institutional buyers put in bids worth Rs 6,000 cr for NHPC share sale")
The government's 3.5 per cent share sale offer in NHPC on Thursday received an enthusiastic response from institutional investors, who put in bids worth over Rs 6,000 crore.
In the two-day offer for sale (OFS), the government is selling over 35 crore equity shares in power producer NHPC, including a greenshoe option to sell 10 crore more, at a floor price of Rs 66 a share. At the floor price of Rs 66/share, the OFS would fetch about Rs 2,000 crore to the exchequer.
The OFS would open for retail investors on Friday.
"Offer for Sale in NHPC received enthusiastic response from non-retail investors today. The issue was subscribed 4.03 times of the base size (non-retail category). Govt has decided to exercise the green shoe option," the Department of Investment and Public Asset Management (DIPAM) Secretary said in a post on X.
Institutional investors put in bids for 91.16 crore shares at an indicative price of Rs 68.50 a piece. The bids are worth Rs 6,000 crore cumulatively.
Shares of NHPC closed at Rs 71.06 apiece, down 2.74 per cent over the previous close 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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