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Govt launches OFS for 3% stake in NLC India

BSE Announcement   Business Standard   NLC India   NLC India  

The government has announced an offer-for-sale (OFS) of 3% of its stake in Chennai-based NLC India to comply with public shareholding norms. The transaction involves the sale of 41.6 million shares, with a provision to sell an additional 13.87 million shares if the oversubscription option is exercised. The floor price for the offer has been set at INR 303 per share. The sale will open for non-retail investors on June 9, followed by retail investors and eligible employees on June 10.Founded in 1956, NLC India is a state-owned company involved in the power and mining sectors. The government plans to use the proceeds from this divestment to meet its fiscal objectives regarding public shareholding.

For FY25, Neyveli Lignite Corporation had reported about INR 10,285 crore in Operating Income and about INR 1,899 crore in PAT.