Govt. Expected to raise 750 Crore through OFS of 5% shares of NLC India Limited; Overall Issue Subscribed 2.10 Times

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..... Govt. Expected to raise 750 Crore through OFS of 5% shares of NLC India Limited; Overall Issue Subscribed 2.10 Times
News and Press Release
Dated:- 27-10-2017

The Government is likely to .....

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..... raise ₹ 750 crore through disinvestment of 5% of paid-up equity shares of NLC India Limited (NLCIL) through Offer for Sale (OFS) mechanism. The Government approved disinvestment of 3% equity s .....

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..... hares of NLCIL as base offer, with an option to retain oversubscription upto additional 2% equity shares. Trading for Non-Retail portion took place on 25th October, 2017 at a floor price of ₹ 94 .....

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..... . 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 took place today i.e. on 26th October, 201 .....

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..... 7. Retail investors were offered discount of 3.5% over cut-off price for non-retail category. The retail portion was subscribed 2.90 times. The cut-off price for retail category was at ₹ 95.80 w .....

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..... hile for non-retail shares was ₹ 94.60. Post-disinvestment, the Government of India's shareholding in NLC will come down to 84.32%.
News - Press release - PIB .....

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