Government to sell its 11.36% stake in NHPC

Posted on:27 Apr 2016 14:24:19
Government to sell its 11.36% stake in NHPC
27 April 2016 Current Affairs: The Government of India has started the disinvestment process of the current fiscal as the GOI has planned to sell its 11.36% equity shares in the National Hydroelectric Power Corporation (NHPC) at rs.21.75. This disinvestment is likely to raise about rs. 2,700 crore. The issue price of share is at a discount of 5.6% to NHPC's closing price of Rs 23.05 on BSE.

Presently, the Government holds 85.96 % in NHPC and selling over 125 crore shares (11.36%) which would help it comply with the minimum public shareholding norms. In this disinvestment a minimum of 20% shares have been reserved for retail investors and around 25% shares have been reserved for the mutual fund and insurance companies. 

This disinvestment came across because of newly-renamed Department of Investment and Public Asset Management (DIPAM) is races to meet the budgeted disinvestment target of Rs.56,500 crore. The NHPC would be the first PSU stake sale on the block. However, the government has already lined up over a dozen PSUs for stake sale in the current fiscal.

Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs October 2017

16 OCTOBER
NEWS
15 OCTOBER
NEWS
14 OCTOBER
NEWS
13 OCTOBER
NEWS

Current Affairs September 2017

30 SEPTEMBER
NEWS
28 SEPTEMBER
NEWS
27 SEPTEMBER
NEWS
26 SEPTEMBER
NEWS

Current Affairs August 2017

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS