In today’s briefing:
- NHPC OFS – While the Overhang Remains, Momentum on the Stock Has Been Very Strong
NHPC OFS – While the Overhang Remains, Momentum on the Stock Has Been Very Strong
- The GoI is looking to raise US$199m in trimming a portion of its stake in NHPC (NHPC IN). There is an upsize option to increase the deal size to US$279m.
- Assuming that the deal upsizes, the deal here would be a relatively large one to digest at 11 days of the stock’s ADV.
- The deal appears to be well flagged, with the selldown by the GoI appearing to be part of its divestment drive across PSUs in India.
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