Indian Government to Divest 3% Stake in NLC India with Fixed Floor Price
NLC India OFS: Govt to divest 3% stake, floor price set at Rs 303
Image: Asianet Newsable
The Government of India plans to divest up to 3% of its equity stake in NLC India Limited through an Offer for Sale, with a floor price set at ₹303 per share. The offer opens for non-retail investors on June 9 and for retail investors on June 10.
- 01The Offer for Sale (OFS) includes a base offer of 2% equity and a 1% Green Shoe Option for oversubscription.
- 02The government will sell approximately 2.78 crore shares initially, with a potential additional 1.39 crore shares under the Green Shoe Option.
- 03NLC India is a Navratna public sector enterprise involved in lignite mining, power generation, and renewable energy projects.
- 04The OFS is part of the government's broader disinvestment program to enhance public participation in public sector enterprises.
- 05Recent divestments include transactions involving Coal India, Central Bank of India, and NHPC, with LIC and IDBI Bank also in the pipeline.
Advertisement
In-Article Ad
The Government of India has announced an Offer for Sale (OFS) of up to 3% of its equity stake in NLC India Limited, setting the floor price at ₹303 per share. The OFS will open for non-retail investors on June 9 and for retail investors on June 10. Initially, the government will offer around 2.78 crore shares, representing 2% of the company's paid-up equity capital, with the possibility of an additional 1% stake through a Green Shoe Option if demand exceeds expectations. NLC India, a Navratna public sector enterprise under the Ministry of Coal, focuses on lignite mining and power generation, while also expanding into renewable energy. This stake sale is part of a broader disinvestment strategy aimed at unlocking value and increasing public involvement in central public sector enterprises, following recent divestments in other public sector companies.
Advertisement
In-Article Ad
The divestment aims to enhance public participation in NLC India, potentially affecting investors and stakeholders in the public sector.
Advertisement
In-Article Ad
Reader Poll
Do you plan to participate in the NLC India Offer for Sale?
Connecting to poll...
Read the original article
Visit the source for the complete story.