The NHPC IPO was oversubscribed 16 times, with bids for over 2.76 billion shares against 167.73 million shares offered. Institutional investors heavily subscribed to the offering, with qualified institutional investors and high net worth individuals subscribing nearly 20 times each. Retail investors portion was oversubscribed 3 times. Analysts said NHPC attracted interest as India's first state-run company IPO in 1.5 years.

1. NHPC IPO subscribed over 16 times
Wed, Aug 12 2009. 5:09 PM IST
PTI
Mumbai: The initial public offer of hydro power producer NHPC got subscribed over 16 times
with most of the bids coming in from institutional investors.
The offer, which is expected to mobilize up to Rs6,000 crore making it the second largest IPO in
the country till date after Reliance Power’s, will close on Wednesday.
The issue received bids for over 2,762.99 crore shares against 167.73 crore shares on offer, as per
the data available on the National Stock Exchange.
Marketmen said the portion reserved for qualified institutional investors and high networth
individuals got subscribed nearly 20 times each, while the retail investors portion was subscribed
over three times the shares on offer.
“The subscription by institutional investors is likely to go up further and the retail participation
would also increase towards the end of bid timing,” SMC Capitals equity head Jagannadham
Thunuguntla said.
Analysts said being a public sector firm, NHPC is getting attention from various categories of
investors. This is the first stake sale by a state-run company in the last one and a half years, after
REC raised over Rs 1,600 crore in February.
The price band of the issue has been fixed between Rs 30 -36.