NHPC share price

NHPC Share Price Drops as Government Plans Stake Sale

NHPC shares slide as government announces 3.5% stake sale through OFS. Find out more about the latest developments!

NHPC Ltd, a major player in renewable energy, is set for a significant change as the government announced a stake sale via an offer-for-sale (OFS) on January 18 and 19, 2024. The proposed sale of a 3.5% stake has led to NHPC shares dropping by 6%, with a floor price set at Rs 66 per share. This move has created a buzz in the market as institutional buyers have already put in bids worth Rs 6,000 crore for the share sale.

The OFS, offering 251,125,870 shares, aims to divest the government's stake in NHPC and open up opportunities for investors. Retail investors will have a chance to participate in the sale after non-retail investors on January 18. As the government pushes forward with its disinvestment plans, NHPC's stock price experienced a 10% discount compared to the current share price.

Amidst the stake sale news, NHPC's share price continued to tumble, decreasing by over 4% as the government initiated the process. The market capitalization of the company fluctuated as investors reacted to the developments. This move highlights the dynamic nature of the stock market and the impact of government decisions on company valuations.

In the midst of the OFS frenzy, NHPC remains a key player in the power sector, attracting attention from both institutional and retail investors. The company's performance and stock price will be closely monitored as the stake sale progresses, influencing the energy market dynamics. Stay tuned for more updates on NHPC's journey amidst the government's divestment plans!