The government on Monday said it will sell up to 6 per cent stake in NHPC at a floor price of Rs 71 per share through an offer for sale (OFS) beginning on Tuesday.
“Government of India announces OFS in NHPC Ltd with a base offer of 3 per cent of its equity and an additional 3 per cent Green Shoe Option in case of oversubscription. Floor price fixed at Rs 71 per share,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said.
The floor price of Rs 71/share is at an 8 per cent discount over Monday’s closing price of the scrip at Rs 77.19 on the BSE. Shares of NHPC closed down 2.07 per cent over the previous close.
The OFS opens for non-retail investors on June 2, and for retail investors on June 3.
Sale of over 60.27 crore shares representing a 6 per cent stake at a floor price of Rs 71 a share would fetch about Rs 4,200 crore to the exchequer.
This will be the third OFS of a public sector company in the current fiscal year. Last week, the government sold a 2 per cent stake in Coal India via OFS to mop up Rs 5,542 crore. In May, it sold 8.08 per cent in the Central Bank of India to raise Rs 2,266 crore. Together, the disinvestment proceeds so far in FY27 stand at Rs 7,808 crore.
The FY27 Budget has estimated a mop-up of Rs 80,000 crore through disinvestment and asset monetisation, more than double the Rs 33,837 crore given in the Revised Estimates for FY26.