Govt successfully divests 10% in Nalco; raises nearly Rs 1,300 cr

After the sale, government holding in Nalco has come down to 65.37%

In its first public sector unit (PSU) stake sale in the current financial year, the government has successfully divested 10 per cent stake in National Aluminum Company (Nalco), for Rs 1,300 crore.

A total of 193.3 million shares, including an over-allotment option, were put on auction through the Offer For Sale (OFS) route. 

Bids came for 255 million shares. On Thursday, 71.22 million shares meant for individual (retail) investors were auctioned. The retail demand was three times more than the shares on offer. The non-retail portion was subscribed on Wednesday. It got bids for 142.4 million shares, against 96.6 million on offer.