Govt to raise Rs 750 crore through disinvestment of NLCIL

Post-disinvestment, the government’s shareholding in NLC India Ltd will come down to 84.32%

GN Bureau | October 27, 2017


#Disinvestment   #PSU   #NLCIL  

Government is planning to raise Rs 750 crores through disinvestment of five percent of paid-up equity shares of NLC India Limited (NLCIL) through offer for sale (OFS) mechanism.

The disinvestment of 3 percent equity shares of NLCIL as base offer has been approved, with an option to retain oversubscription up-to additional 2 percent equity shares.

Trading for non-retail portion took place on October 25, 2017 at a floor price of Rs 94. Against the offer size of 3.67 crore, bids were received for 11.63 crore shares. It resulted in over subscription by 3.19 times.

Post-disinvestment, the government’s shareholding in NLC will come down to 84.32 percent.
 

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