The authorities will divest 7 per cent fairness together with Green Shoe possibility of 2 per cent.
The Rs 2,000 crore OFS will open for institutional traders on Thursday and for retail traders on Monday
The authorities will promote up to a 7 per cent stake in NLC India at a ground value of Rs 212 per share in a two-day supply on the market starting Thursday. The Rs 2,000 crore OFS will open for institutional traders on Thursday and for retail traders on Monday. Friday is a market vacation on account of Maha Shivratri.
“Offer for sale in NLC India Limited opens tomorrow for non-retail investors. Retail investors can bid on Monday, 11th March. The government will divest 7 per cent equity including Green Shoe option of 2 per cent,” DIPAM Secretary Tuhin Kanta Pandey mentioned on X. The authorities is promoting over 9.7 crore shares at a ground value of Rs 212 apiece. If totally subscribed, together with the inexperienced shoe possibility, the share sale would fetch about Rs 2,000 crore to the exchequer.
The ground value is at a reduction of about 6.5 per cent over Wednesday’s closing share value of NLC on the BSE. Shares of NLC closed at Rs 226.70, up 0.31 per cent over the earlier shut on BSE.
So far in the Current fiscal, the federal government has realised Rs 12,609 crore by means of minority stake gross sales in CPSEs.
