NHPC share sale: Institutional buyers put in Rs 3,410 crore bids

State-owned hydropower producer NHPC Ltd's share sale on Wednesday garnered 1.58 times subscription, totalling Rs 3,410 crore, with most bids coming in from LIC and mutual funds. Day one of the two-day share sale, wherein the government is offloading 11.36 per cent of equity, saw subscription for 156.79 crore shares as against 100.61 crore offered to institutional investors, according to the stock exchange data. 

Most of the bids came at the floor or minimum bid price of Rs 21.75. At this price, subscription of over 156.79 crore shares totaled Rs 3,410 crore.