- Government of India plans to divest up to 3% stake in NLC India Ltd via OFS
- Floor price for the offer set at Rs 303 per share, about 10% discount to market price
- OFS opens June 9 for non-retail and June 10 for retail investors
The Government of India has announced an Offer for Sale (OFS) in state-run NLC India Ltd, seeking to divest up to 3% of its equity stake in the company.
The offer will provide an opportunity to the Investors to acquire shares of one of India's leading integrated mining and power generation companies at the specified floor price.
The stake sale forms part of the government's broader disinvestment programme aimed at unlocking value from public sector enterprises while enhancing public shareholding.
According to the announcement, the floor price for the OFS has been set at Rs 303 per share. The offer will open for non-retail investors on June 9, while retail investors will be able to participate on June 10. The floor price marks a discount of about 10% as against the current market price.
ALSO READ : NHPC OFS: Govt Sells 6% More Stake After Exercising Greenshoe Option
The sale comprises a base offer of 2% of the paid-up equity capital, with an additional 1% stake available under a green shoe option in the event of strong investor demand.
The company has maintained steady growth across its mining and power businesses, supported by capacity expansion initiatives and a diversified energy portfolio.
NLC India, formerly known as Neyveli Lignite Corporation, has delivered robust operational and financial performance in recent years.
The PSU has also rewarded shareholders through regular dividend payouts and consistent returns, reinforcing its position as a key player in India's energy sector.
Market participants are expected to closely track investor response to the OFS, given the company's strong fundamentals and strategic importance in the country's power and mining landscape.
With the government offering a sizable stake through the OFS route, the issue is likely to attract interest from both institutional and retail investors seeking exposure to a profitable and dividend-paying public sector company.
ALSO READ : Coal India OFS Fully Subscribed For Non-Retail Investors
Shares of NLC India on Monday settled 0.06% lower at Rs 336.4 piece on the NSE, compared to a 1.04% decline in the benchmark Nifty 50.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
