The Centre’s move to divest 11.36 per cent stake in power generator NHPC through the offer-for-sale route drew good response from non-retail investors.
Of the 80 per cent earmarked for the non-retail category (over 100.61 crore shares), the subscription at the end of the first day of sale was over 1.55 times. Of this, bidders for over 91.96 crore shares brought in 100 per cent margin and the remaining bidders for over 64.82 crore shares did not bring in any margin. The floor price of each share was set at ₹21.75.
The OFS will continue on Thursday with retail investors bidding for over 25.15 crore shares, or 20 per cent of the issue size of ₹2,735.34 crore. Retail investors will receive a five per cent discount on the cut-off price.
Edelweiss Securities, HSBC Securities and IDFC Securities are the selling brokers.