Government, which holds 86.36 percent stake in NHPC, is likely to offload its share and raise money as part its Rs 40,000 crore stake sale plan in the current financial year (2013-14).

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

The company got listed on bourses in 2009 after the government divested 5 percent stake. It has also issued 10 percent fresh equity. The public sector company reported 9.67 percent drop in net profit at Rs 707.58 crore for the second quarter ended September 30, 2013-14 fiscal.

This was mainly due to 550 million units generation loss at its Dhauliganga hydel project in Uttarakhand is undergoing repair work following landslides that hit the hill state in June. The company had reported net profit of Rs 783.38 crore in the July-September quarter of the previous fiscal 2012-13.

NHPC generates 5,702 MW electricity from 17 hydel stations in India. As many as seven power stations totalling 4,095 MW capacity are under construction. The company's scrip closed at Rs 17.65, down 1.67 percent, on the BSE.


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