NHPC IPO
NHPC IPO
NHPC is a hydroelectric power company which has got thirteen power stations, and an installed capacity of 5,175 MW. NHPC is predominantly present in the North and North Eastern part of India. The NHPC IPO, which is the first stake sale by a PSU company in the last one and a half years, got bids for 175.81 crore shares as against 167.73 crore shares on offer. The matter got subscribed 1.05 times as on 1100 hrs, as per data available on the National Stock Exchange. The proposed issue involves NHPC infusing 10% fresh equity by this public offer to arouse Rs 1,680 crore while the government will divest its 5% stake in the company.
The public bid is likely to stay open for subscription for a period of 6 days. Marketmen said the NHPC IPO with a tag of public field firm and attractive price band has enthused investors, besides the overall recovery in the secondary market is also getting reflected in the elemental market. The NHPC IPO came days after the Adani Power IPO, which witnessed robust investors’ interest and was signed over 21 times.