The Indian government has exercised a 3% oversubscription option for its share sale in hydropower company NHPC (NSE:NHPC, BOM:533098), according to a Tuesday filing to the Indian stock exchanges.

The company's shares were up 4% in recent trade.

With this, the government's total stake on offer was raised to 6% from the base issue of 3%, with a total offer size of 602.7 million equity shares.

The sale was launched on June 2 with a floor price of 71 rupees per share. Retail investors and eligible employees will be able to participate in the OFS on June 3.

"A total of 6,02,70,210 Equity Shares i.e. 10% equity shares of the offer, would be reserved for retail investors, subject to receipt of valid bids," the statement said.