Asia
Indian Government Exercises Greenshoe Option for NHPC OFS; Shares Up 4%
The Indian government has exercised a 3% oversubscription option for its share sale in hydropower company NHPC (NSE:NHPC, BOM:533098), according to a Tuesday filing to the Indian stock exchanges.The company's shares were up 4% in recent trade.With this, the government's total stake on offer was raised to 6% from the base issue of 3%, with a total offer size of 602.7 million equity shares.The sale was launched on June 2 with a floor price of 71 rupees per share. Retail investors and eligible employees will be able to participate in the OFS on June 3."A total of 6,02,70,210 Equity Shares i.e. 10% equity shares of the offer, would be reserved for retail investors, subject to receipt of valid bids," the statement said.
BOM:533098NSE:NHPC
