NHPC's Rs 2,368 cr share buyback to begin from 29 Nov

New Delhi: State-owned NHPC's buyback of shares worth up to Rs 2,368 crore will start from 29 November and aims at funding the country's largest hydro power producer's expansion plans.

"The (buyback) process will commence on 29 November and will be concluded on 12 December," said a source.

The company plans to buyback up to 123,00,74,277 fully paid up equity shares of Rs 10 each at a price of Rs 19.25 apiece aggregating Rs 2,368 crore from the open market.[caption id="attachment_1244223" align="alignleft" width="380"] Image courtesy NHPC[/caption]

The government holds 86.36 percent stake in NHPC.

The company got listed on bourses in 2009 after the government divested 5 percent stake. It has also issued 10 percent fresh equity.

Overall, the government plans to raise Rs 40,000 crore in the current financial year (2013-14) through disinvestment.

NHPC generates 5,702 MW electricity from 17 hydel stations in the country. As many as seven power stations totalling 4,095 MW capacity are under construction.

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The company's scrip closed at Rs 17.65, down 1.67 percent, on the BSE.

PTI