State-run NHPC Ltd today said that its offer for sale of 6.28 crore shares to eligible employees will open on November 4, 2016.
"Offer for Sale of Shares (OFS) by Government of India to eligible employees of NHPC Ltd will now remain open from November 4, 2016 to November 11, 2016," NHPC Ltd said in a BSE filing today.
In accordance with the approval accorded by Cabinet Committee of Economic Affairs on September 10, 2014, Government of India has offered 6,28,81,397 equity shares of Rs 10 each to the eligible employees of NHPC Ltd.
The offer was at a discounted price of Rs 20.66 per share i.E. 5 per cent discount to the cut off price of Rs 21.75 discovered through Offer for sale of equity shares of NHPC Ltd carried out by Central Government on April 27-28, 2016.
The offer for sale of shares tentatively was to be launched in second/third week of September, 2016, as per a BSE filing by company on September 6, 2016.
Later on September 22, 2016, the company informed BSE that Government of India has offered 6,28,81,397 equity shares of Rs 10 each to the eligible employees of NHPC Ltd at discounted price of Rs 20.66 per share and the offer shall remain open from September 26 to October 3, 2016.
On September 23, 2016, the company informed BSE that the scheduled opening of the offer from September 26, 2016 has been kept on hold due to some technical reason till further communication.
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