Nalco share sale fully subscribed

OFS gets demand worth Rs 954 crore from non-retail bidders

National Aluminium Company (Nalco)'s offer for sale (OFS), first government divestment of 2017-18, was fully subscribed on Wednesday, with the 96.6-million share offering getting 142.4 million bids. 

Government, which currently owns 74.58 per cent stake in Nalco, is selling up to 10 per cent stake worth Rs 1,300 crore in the aluminium manufacturer. The OFS comprises of 96.6 million shares (five per cent stake) as the core issue and an option to retain oversubscription for another 96.6 million shares.

So far the government has managed to mop up Rs 954 crore from non-retail investors. Meanwhile, the OFS will remain open for retail