The Finance Ministry has started the process of divesting 11.36% stake in hydro power company NHPC and will soon rope in merchant bankers for the stake sale, which could fetch the government a sum of around Rs 2400 crore. Further, Department of Disinvestment (DoD) has also invited expression of interest from merchant bankers.
The Government plans to disinvest 11.36% stake or over 120 crore shares of NHPC through Offer for Sale (OFS) in the domestic market. Up to 10% of the OFS would be set aside for the employees of the company and shares would be offered to them at a discount of 5%.
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.
