Shares of NHPC fell nearly 5% to Rs 73.42 apiece on Tuesday after the government launched an offer for sale (OFS) to divest up to a 6% stake in the PSU. The OFS, which opened for non-retail investors on Tuesday, was priced at Rs 71 apiece, a discount of nearly 8% to the stock's previous closing price, weighing on investor sentiment.
NHPC announced on Monday that the government aims to sell 3% of the company’s total paid-up equity capital as part of the base offer. The government also retains an oversubscription option to sell an additional 30 crore shares, taking the total potential offer size to 60.27 crore shares or 6% equity. At the floor price of Rs 71 per share, this would be worth more than Rs 4,279 crore.
The offer for sale opened for non-retail investors on June 2, while retail investors, eligible employees and non-retail investors carrying forward unallotted bids can participate on June 3.
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The government owned more than 67% stake in the PSU company as of March 31, 2026. NHPC, in its exchange filing, further said that the share sale by its promoter will be conducted through a separate window mechanism on BSE and the National Stock Exchange in accordance with the Securities and Exchange Board of India’s OFS guidelines.
NHPC’s OFS comes days after the government divested some of its stake in state-run miner Coal India through an offer for sale at a floor price of Rs 412 per share. The government owned more than 63% stake in the PSU company as on March 31, 2026.
NHPC share price
NHPC shares have fallen more than 6% in one week and 12% in one month. The stock is down around 8% in 2026 so far and 16% in one year. In the longer term, the stock delivered 70% returns over three years and 185% over five years.
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The company currently has a market capitalisation of more than Rs 73,760 crore.
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