NLC OFS: Non-retail portion oversubscribed 3.19 times

Govt approved disinvestment of 3% equity shares of NLCIL as base offer, with an option to retain oversubscription up to additional 2% equity shares

Centre is expected to raise Rs 750 crore through offer for sale of 5% shares of NLC India Limited. Non-retail portion was oversubscribed by 3.19 times.

Post-disinvestment, the Government of India’s shareholding in NLC will come down to 84.32%.

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 October 25, 2017 at a floor price of Rs 94. Against the offer size of 36.7 million shares, bids were received for 116.3 million shares, resulting in oversubscription by 3.19 times. 

Government, accordingly, decided