NHPC OFS Opens for Retail Investors: Offer Price, How to Apply, and Key Details

Mumbai | 3 June 2025 

The Central government’s offer for sale in NHPC opened for retail investors on Wednesday, with the non-retail portion having already drawn strong demand on day one. 

What Is the Offer Price and OFS Structure? 

The floor price for the OFS is ₹71.5 per share. The Centre announced the OFS on 1 June with a base size of 3% of NHPC’s equity and a green shoe option of an additional 3%, exercisable in the event of over-subscription. At the end of the March quarter, the Central government held a 67.4% stake in NHPC. Retail investors held 8.28% at the same date, according to stock exchange data. 

How Did the Non-Retail Portion Perform? 

The OFS opened for non-retail investors on 2 June and closed with an overall subscription of 3.47 times the shares on offer. Following this response, DIPAM Secretary Arunish Chawla confirmed on X that the Centre would exercise the entire green shoe option and allocate shares on a priority basis. 

How Can Retail Investors Apply? 

Retail investors can participate through their trading or demat account by following these steps: 

• Open your trading or demat account and go to the “corporate action” or “OFS” section. 

• Check the floor price, bid quantity, and price details before placing your bid. 

• The bid price must be at or above the cut-off price of ₹71.5 per share. Bids placed below this level will be rejected. 

• Ensure sufficient funds are available in your account before submitting, as the bid amount will be blocked upon acceptance. 

How Did NHPC Shares React? 

NHPC shares were up 4.5% at ₹75.56 in early trade on Wednesday, partly recovering after a decline of nearly 7% during the previous session, which was the stock’s largest single-day fall since June 2024. Over 21.2 crore shares changed hands on Tuesday, well above the 20-day average of 1.5 crore shares. Of the total traded quantity, 9.2 crore shares, or 44%, were marked for delivery, against a 20-day delivery average of 70 lakh shares. 

What Does the Stake Sale Mean for Government Shareholding? 

The base divestment of 3% would bring the government’s stake in NHPC down from 67.4%. With the green shoe option fully exercised, the total stake on offer stands at 6%. The post-OFS government shareholding figure has not been officially confirmed. 

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