NHPC, the country’s largest hydro power producer, has bought back equity worth Rs 2,368 crore under an offer that ended earlier this month after attracting more shares than targeted. The state-run hydro-electricity generator bought back 1.23 billion equity shares at Rs 19.25 apiece. Around 1.4 billion shares were tendered in the offer, which started on November 29 and closed on December 12.
The company purchased 1.1 billion shares worth Rs 2,130 crore from the government, equivalent to 90% of the buyback. The government’s stake in the company was reduced to 85.96% from 86.36%.
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.
The company purchased 1.1 billion shares worth Rs 2,130 crore from the government, equivalent to 90% of the buyback. The government’s stake in the company was reduced to 85.96% from 86.36%.
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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