Preference to TN in NLC stake sale

Paving the way of disinvestment of Neyveli Lignite Corp, Sebi has permitted Tamil Nadu state entities to buy shares on preferential basis during the proposed government's 3.56 per cent stake sale. Sebi in a communication to the Disinvestment Department has said other states in which Neyveli's generating units are located should be given preference in allotment of shares.

"It has been decided.To treat QIBs belonging to Tamil Nadu as separate QIBs.For the purpose of allotment in IPP," Sebi's letter said.