NHPC has decided to buy back over 81 crore equity shares at Rs 32.25 apiece totaling about Rs 2,616 crore. The company has appointed SBI Capital Markets as the manager to the buyback offer. Under the buyback plan, the shares bought by the company are extinguished from the shareholding. Thus, the shareholding reduces by that much number of shares and capital.
NHPC is engaged in electricity generation. The company is engaged in electric power generation by hydroelectric power plants. The company is also engaged in contracts, project management and consultancy works.