Govt. expects to raise Rs. 750 crore through OFS of 5% shares of NLC India Limited
Government approved disinvestment of 3% equity shares of NLCIL as base offer, with an option to retain oversubscription up-to additional 2% equity shares. Trading for Non-Retail portion took place on 25th October, 2017 at a floor price of Rs. 94, read a government statement.
"Against the offer size of 3.67 crore, bids were received for 11.63 crore shares, resulting in over subscription by 3.19 times. Government accordingly decided to retain the over-subscription by revising the total offer size from 3% to 5% of equity shares. Trading for retail category will take place on 26th October, 2017. Retail investors are offered discount of 3.5% over cut-off price for non-retail category," it said.
Post-disinvestment, the Government of India’s shareholding in NLC will come down to 84.32%.
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