The government on Monday said it will sell up to 6 per cent stake in NHPC at a floor price of ₹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 ₹71 per share," Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said.
The floor price of ₹71/share is at an 8 per cent discount over Monday's closing price of the scrip at ₹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 ₹71 a share would fetch about ₹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 ₹5,542 crore. In May, it sold 8.08 per cent in the Central Bank of India to raise ₹2,266 crore. Together, the disinvestment proceeds so far in FY27 stand at ₹7,808 crore.
The FY27 Budget has estimated a mop-up of ₹80,000 crore through disinvestment and asset monetisation, more than double the ₹33,837 crore given in the Revised Estimates for FY26.
