NHPC, the country’s largest hydro power producer is planning to buyback shares worth Rs 1,600 crore instead of going through Offer for Sale. The share buyback proposal is aimed at improving the value of company's share in the market. In this regard, the company is seeking approval from its Board, after which the Power Ministry will approach the Cabinet for the final nod.
The government had earlier planned to disinvest 11.36% stake in NHPC through OFS in the domestic market, which is in the doldrums. At present, the government holds 86.36% stake in the state-owned company.
The company, currently, generates 5,702 MW electricity from 17 hydel stations in the country and as many as seven power stations totalling 4,095 MW capacity are under construction.
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.
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