On Thursday, NHPC OFS received an overwhelming response from institutional investors, such that the government decided to exercise the greenshoe option and sell an additional 1% stake in the renewable energy major.
The government plans to sell 251,125,870 shares, representing a 2.5% stake in NHPC and has set the floor price at Rs 66 a share. This is at a steep discount of nearly 10% from the current market price.
On Wednesday, the government announced plans to sell 251,125,870 shares, representing a 2.5% stake in NHPC, and set the floor price at Rs 66/share. This was at a steep discount of nearly 10% to the closing price of the stock. Further, the government said it would sell an additional 100,450,348 shares, representing a 1% stake, in case of an oversubscription.