 "Govt raises Rs 710 cr by divesting 5% in NLC India")
The government has mopped up Rs 710 crore by divesting five per cent stake in NLC India, formerly Neyveli Lignite Corporation.
The offer for sale (OFS) of 76.4 million shares saw bids for 165 million shares. The retail portion of the OFS saw three times oversubscription on Thursday. A day earlier, the institutional portion of the share sale had seen two times oversubscription.
Centre had set a floor price of Rs 94 for the OFS. Retail investors were offered a discount of 3.5 per cent. NLC India’s shares on Thursday closed at Rs 97.6, up 3.2 per cent.
Centre had set a floor price of Rs 94 for the OFS. Retail investors were offered a discount of 3.5 per cent. NLC India’s shares on Thursday closed at Rs 97.6, up 3.2 per cent.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%