Govt. expected to raise 750 Crore through OFS of 5% shares of NLC India Limited; Non-retail portion over-subscribed by 3.19 times

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..... Govt. expected to raise 750 Crore through OFS of 5% shares of NLC India Limited; Non-retail portion over-subscribed by 3.19 times
News and Press Release
Dated:- 25-10-2017

The Government .....

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..... of India is likely to raise ₹ 750 crores through disinvestment of 5% of paid-up equity shares of NLC India Limited (NLCIL) through Offer for Sale (OFS) mechanism. Government approved disinvest .....

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..... ment 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 .....

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..... price of ₹ 94. 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-s .....

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..... ubscription 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-o .....

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..... ff price for non-retail category. Post-disinvestment, the Government of India's shareholding in NLC will come down to 84.32%.
News - Press release - PIB .....

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