New Delhi, June 2 -- New Delhi: The government's Offer for Sale (OFS) in NHPC Ltd received a strong response from investors on the first day, with the issue being subscribed 3.47 times, prompting the Centre to exercise the entire greenshoe option.

The government had on Monday announced the OFS with a base offer of 3% of its equity in NHPC and an additional 3% greenshoe option in the event of oversubscription. The floor price for the offer was fixed at Rs.71 per share, a discount of about 8% to the stock's previous closing price of Rs.77.19.

At the floor price, the stake sale is expected to fetch up to about Rs.4,650 crore.

NHPC, a navratna public sector undertaking, is India's leading hydropower producer with a growing presence in sola...