NHPC Shares Down Over 5% as Offer for Sale to Dilute Govt Stake in Company Begins

New Delhi, June 2: NHPC shares were trading down over 5 per cent on Tuesday, after the Offer for Sale (OFS) to dilute up to 6 per cent of the government’s stake opened for subscription.

Shares of NHPC were trading at Rs 72.84 per unit, down 5.64 per cent on the BSE.

The government announced a floor price of Rs 71 per share for NHPC OFS on Monday.

The floor price of Rs 71/share is at an 8 per cent discount over Monday’s closing price of Rs 77.19 on the BSE. Monday the stock ended down 2.07 per cent over Friday’s close.

The OFS opened for non-retail investors on Tuesday, while for retail investors it will open on Wednesday.

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 as per the Revised Estimates for FY26.

(with inputs from PTI)