NHPC slips over 4% after govt offers to sell 3.5% stake in PSU through OFS

NHPC shares fell more than 4 per cent on Thursday after the central government announced an offer for sale of the company's shares. NHPC was trading at Rs 69.80 down 4.4 per cent on BSE.

The President of India, acting through and represented by the Ministry of Power, Government of India proposes to sell 2.50 per cent of the paid-up equity (equivalent to 251,125,870 equity shares) shares held in NHPC Ltd having a face value of Rs 10/- each on January 18, 2024 (T day) (for non-Retail investors only) and on January 19, 2024 (T+1 Day) (for Retail Investors and for non-Retail Investors who choose to carry forward their un-allotted bids) (with an option to additionally sell up to 100,450,348 equity shares i.e. 1.00 per cent of the paid-up equity of the company (Oversubscription Option).

Such number of equity shares as would be equivalent to up to 3.00 per cent of the Offer Shares may be offered to eligible employees of the Company subsequent to completion of the Offer, subject to approval from the competent authority in accordance with the applicable laws (the "Employee Offer").

The eligible employees may apply for equity shares up to Rs 500,000. However, any bids by eligible employees will be considered for allocation, in the first instance, for an amount up to Rs 200,000 only.