Another OFS: Govt to sell up to 3% in NLC at Rs 303; retail opens June 10

New Delhi: The Government will sell up to three percent 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.

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

The floor price fixed at Rs 303 per share of NLC India reflects a 9.73 percent discount over the closing price of Rs 335.65 apiece on the BSE on Monday.

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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.

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