The government has sold 60.48 crore equity shares worth Rs 1,950 crore in the state-run hydro power generator NHPC under buyback issue of the company. The company had offered a price of Rs 32.25 per equity share under the buyback offer to its shareholders.
The government was holding 824.82 crore shares in the company before the sale under the buyback which was reduced to 764.34 crore equity shares. The government’s equity stake remained almost the same after the buyback. Its holding was 74.51 per cent in the company before the sale of shares which is now 74.50 per cent after the transaction.
The company had offered to buy back shares not exceeding 81.13 crore representing 7.33 per cent of total shares at a price of Rs 32.25 for a consideration of Rs 2,616.59 crore.