NHPC IPO receives overwhelming response from investors

The initial public offer (IPO) of the government-owned hydropower company, NHPC, was subscribed 23.72 times. The issue, which closed on Wednesday, received bids for 3,979 crore shares against the 168 crore shares on offer, according to the data available on the NSE website.

The QIB portion was subscribed 29.1 times, HNIs 56.56 times and the retail portion 3.1 times. The issue was offered in the price band of Rs 30-3. Merchant bankers said the majority of the bids came in at the upper end of the price band.

NHPC is also mulling investment of Rs 28,000 crore by 2012 to set itself as over 10,000 MW utility power producer, as against current capacity of 5,200 MW.

Meanwhile Adani Power’s IPO, which closed last month and offered 30 crore shares, was subscribed 21.59 times.