The Government of India has launched an offer for sale (OFS) in NLC India, comprising a base offer of 2 per cent equity and a green shoe option of an additional 1 per cent in the event of oversubscription.
According to a post by DIPAM Secretary Arunish Chawla on X, the floor price for the OFS has been fixed at Rs 303 per share. The offer will open for non-retail investors on June 9, while retail investors and eligible employees can place bids on June 10.
The government has reserved 10 per cent of the offer for retail investors. Detailed terms and conditions of the sale will be outlined in the OFS notice to be issued on the stock exchanges.
The stake sale is part of the government’s ongoing disinvestment programme.
Separately, NLC India recently signed a memorandum of understanding (MoU) with Nuclear Power Corporation of India Ltd (NPCIL) to form a joint venture for developing nuclear power projects in India.
The proposed collaboration will focus on the development of indigenous 700 MW Pressurised Heavy Water Reactor (PHWR)-based nuclear power projects, while also exploring investments in NPCIL’s existing and upcoming nuclear power projects through the proposed joint venture structure.
NLC India shares closed at Rs 336.40 on the NSE on June 8, down 0.06 per cent from the previous session. |
