The government's 3.5% share sale offer in NHPC Ltd. 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, 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% over the previous close on the BSE.
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