State-run NHPC's OFS booked 1.6x, HSBC MF launches Long-Short S

The Centre's NHPC stake sale drew strong demand, a Mumbai court summoned former Religare chairperson Rashmi Saluja, and HSBC MF launched its first SIF

State-run NHPC’s OFS booked 1.6x 

The government’s offer-for-sale (OFS) in state-run NHPC was subscribed 1.6 times on Tuesday, helping Centre garner more than 

₹4,300 crore as part of its divestment programme. Institutional investors bid for about 942 million shares against the total offer size of 602.7 million shares, according to exchange data. Most bids were placed around ₹72 per share, slightly above the floor price of ₹71. The government had offered up to 6 per cent stake. The Union Budget has set a target of  ₹80,000 crore from divestment and asset monetisation for 2026-27 (FY27).  

 

Special court summons Rashmi Saluja, 4 others  

 

A special court in Mumbai has taken cognisance of an Enforcement Directorate (ED) prosecution complaint against former Religare Enterprises Chairperson Rashmi Saluja and four others in a case linked to allegations of fabricating a criminal complaint against members of the Burman family. The court, has summoned all five accused and directed them to appear before it on June 11. 

 

HSBC MF launches Long-Short SIF  

HSBC Mutual Fund (MF) on Tuesday announced its entry into the specialised investment fund (SIF) space with the launch of RedHex Hybrid Long-Short Fund. The scheme is designed for investors seeking regular returns. “The fund strategy aims to deliver strong accrual potential with relatively low volatility through a diversified allocation across asset classes,” it said. While SIFs have a minimum ticket size of ₹10 lakh, the RedHex scheme has a lower minimum ticket size to accredited investors at ₹1 lakh.