Cabinet Committee on Economic Affairs (CCEA) has cleared sale of government’s 11.36% stake in NHPC through an Offer for Sale (OFS). With the sale of the said stake the government could fetch over Rs 2,800 crore to the exchequer.
In this regard, the disinvestment department has selected three merchant bankers -- Edelweiss Financial, IDFC Capital and HSBC Securities. Government holds 85.96% stake in NHPC. The stake sale would help the company comply with the minimum 25% public shareholding norm of market regulator Sebi.
In the current fiscal, the government plans to mop up Rs 43,425 crore from selling its stakes in PSUs.
NHPC is engaged in the planning, development and implementation of an integrated and efficient network of hydroelectric projects in India. It executes all aspects of the development of hydroelectric projects, from concept to commissioning.
| Company Name | CMP |
|---|---|
| NTPC | 400.45 |
| Tata Power | 439.20 |
| Adani Power | 230.15 |
| Power Grid Corp | 313.90 |
| Torrent Power | 1712.20 |
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