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The disinvestment process for the Government’s holding in the NHPC (formerly National Hydroelectric Power Corporation) has begun.
The government plans to engage merchant bankers and selling brokers and has invited proposals from reputed merchant bankers in this connection.
The Government plans to divest 11.36 per cent out of its shareholding of 85.96 per cent in the share capital of NHPC through an offer for sale through stock exchanges.
The share capital of the corporation is Rs 11,071 crore as on March 31, 2014. Public shareholding is 14.04 per cent. According to SEBI regulations, minimum public shareholding should be 25 per cent. The disinvestment will help achieve that objective besides adding about Rs 3,000 crore to the government coffers for the 11.36 per cent stake.
The NHPC share was trading at Rs 23.70 on the BSE.
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