NHPC share price drops 5% as OFS kicks off; Acme Solar gains on QIP; key details

Shares on NHPC Ltd fell 5 per cent in Tuesday's trade on the kick start of two-day offer for sale (OFS), while those of Acme Solar Holdings Ltd advanced over a per cent, after falling initially, as the company launched qualified institutional placement (QIP). 

NHPC shares fell 4.54 per cent to Rs 73.68 apiece on BSE, as the government kicked off its two-day offer for sale (OFS), setting the floor price at Rs 71 apiece, a 7.85 per cent discount to Monday's closing price of Rs 77.05 apiece on NSE. Acme Solar Holdings slipped initially but was later trading 1.19 per cent higher at Rs 310.55. 

Acme Solar, a renewable energy solutions provider, set the floor price for its QIP at Rs 294.13 apiece, a 4.16 per cent discount to Tuesday's closing price of Rs 306.90 per share. The stock gained as the company informed stock exchanges that its wholly owned subsidiary, ACME Sun Power Private Limited, has commissioned 33.333 MW or 160.512 MWh capacity of Battery Energy Storage System (BESS) Project located at Phalodi and Jodhpur in Rajasthan, on June 1. 

"The commercial operation date (COD) for the same shall be June 03, 2026. With this, ACME Sun Power Private Limited has achieved a commissioned capacity of 266.669 MW / 1283.936 MWh," Acme Solar said.

In the case of NHPC, non-retail investors and NHPC employees will be allowed to bid today. Retail investors, individuals who place bids for offer shares of total value of not more than Rs 2,00,000, will be able to participate in the OFS on Wednesday, June 3, 2026. The government held 67.40 per cent stake in NHPC as of March 31, 2026. 

The fresh move comes days after it offloaded stakes in Coal India and Central Bank of India. 

"Only retail investors shall be allowed to place their bids only on T+1 Day. Further, those employees and non-Retail investors who have placed their bids on T Day and have chosen to carry forward their unallotted bids to T+1 Day, shall be allowed to revise their bids on T+1 Day as per the SEBI OFS Circular," NHPC said.

In the case of Acme Solar, HSBC in a May note said early and larger commissioning of BESS sets the stage for monetising diurnal variation in power prices. 

"We believe Acme, a fully vertically integrated renewable IPP, is in a high growth phase adding significant capacity over the next two years. Strategically,  the business is evolving from a pure-play solar provider to more complex firm and  dispatchable renewable energy (FDRE) projects, which require a combination of solar,  wind, and battery storage capacity," HSBC said on May 8.