NHPC Announces OFS of 50.5 Lakh Equity Shares at Rs 71 Per Share for Eligible Workers

25 Jan 2024 , 11:23 AM

According to NHPC, eligible workers of the company will get an offer for sale of 50.5 lakh equity shares at a price of Rs 71 per equity share from the government.

The OFS date will be announced in due course, according to NHPC’s regulatory filing.

The NHPC stock increased 6.91% and closed at Rs 81.2 on January 24.

The government had sold institutional and individual investors 35.15 crore equity shares, or 3.5% of the company, through OFS the week prior.

When the institutional component started on January 18, 91 crore bids were placed for the 31 crore shares that were up for grabs. On January 19, the retail segment opened for business and received bids for 7.6 crore shares, with 3.51 crore shares up for grabs.

As of December 2023, the government owned 70.95% of NHPC, based on the shareholding pattern.

NHPC’s revenue increased by 11.6% to Rs 2,931.3 crore in its Q2 results, while its consolidated net profit increased by 0.7% to Rs 1,546 crore. On February 12, 2024, NHPC will make its Q3 results announcement.

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