NHPC IPO subscribed over 23 times

The initial public offer (IPO) of hydro power producer NHPC got subscribed over 23 times on the final day of the offer today. The issue also got huge response from institutional investors.     

The offer is set to become  the second largest IPO in the country so far after Reliance Power, mobilising up to Rs 6,000 crore.

The total bids received was for over 39.46 billion shares against 1.67 billion shares on offer, as per the  National Stock Exchange data.

As per reports, the portion reserved for qualified institutional investors and high networth individuals got subscribed nearly 20 times each, while the retail investors portion was subscribed over three times the shares on offer.    

 

The price band of the issue has been fixed between Rs 30 -36.