National Hydroelectric Power IPO oversubscribed seven times | india | Hindustan Times
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National Hydroelectric Power IPO oversubscribed seven times

india Updated: Aug 07, 2009 21:17 IST

IANS
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State-run National Hydroelectric Power Corp's (NHPC) initial public offer (IPO) was oversubscribed a little over seven times, according to the data available with the National Stock Exchange (NSE) on Friday.

The company had offered 167.73 crore shares with a face value of Rs 10 each. The price band of the IPO was fixed between Rs 30-36.

The portion kept for qualified institutional buyers got overbid a little over six times, while retail individual investors' bid went overboard by 0.09 per cent.

"It's a public sector firm, hence it got attention from various categories of investors," SMC Capitals equity head Jagannadham Thunuguntla said.

The company plans to raise over Rs 6,000 crore from the IPO, the second biggest public offering after Reliance Power.