NLC India OFS Opens Today; Govt to sell up to 3% Stake at Rs 303/share

New Delhi, June 9: The Government will sell up to three per cent stake in NLC India Limited through an offer for sale at a floor price of Rs 303 per share.
The OFS opens for non-retail investors on Tuesday.

Government of India announces OFS in NLC India Limited (formerly Neyveli Lignite Corporation) with a base offer of 2 per cent of its equity and an additional 1 per cent Green Shoe Option in case of oversubscription,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said on micro blogging platform X.

The floor price fixed at Rs 303 per share of NLC India reflects a 9.73 per cent discount over the closing price of Rs 335.65 apiece on the BSE on Monday.
The offer for sale (OFS) opens for retail investors on June 10.

With strong operational and financial performance, consistent returns and attractive dividends, NLC continues to offer a compelling long-term investment opportunity, Chawla said.

So far in the current fiscal, the government has mopped up Rs 12,166 crore by selling minority stakes in PSUs. These disinvestments include Rs 5,542 crore from Coal India, Rs 4,357 crore from NHPC and Rs 2.266 crore from Central Bank of India.