NHPC Shares Soared 12% On January 20, Post Successful OFS

23 Jan 2024 , 03:15 PM

NHPC shares witnessed a 12 % intraday surge on January 20, following a successful Offer for Sale (OFS) by the government-owned company.

Both retail and institutional investors showed a strong response to the OFS, has led a positive market sentiment. The BSE power index experienced a 2 % increase, driven by the robust performance of NHPC and other power-related stocks.

Adani Power, Adani Transmission, and Powergrid also recorded gains ranging from 1.2 to 2.4 percent on the same day(January 20)

Institutional bidding for the OFS opened on January 18, attracting bids for 91 crore shares against the available 22.6 crores shares. The retail portion, which opened the next day (January 21), saw bids for 3.8 crore shares against the reserved 2.5 crore shares.

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