NHPC Employees avoid IPO

The employees of NHPC Limited avoided investing in the Initial Pubic Offering (IPO) of the company which closed for subscription on Wednesday - August 12, 2009.

The company had come out with an IPO of 1677374015 equity shares of Rs 10 each for cash at a price band of Rs 30 to Rs 36 through 100% book building process.

The employee reservation portion was offered / reserved 41934350 equity shares from the total issue. The company received subscription for just 23888375 equity shares resulting in a subscription of 0.5697 times. The employees had bid for 201600 equity shares at cutoff price and 23686775 equity shares through price bids.

Source : Equity Bulls

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