Govt. Expected to raise 750 Crore through OFS of 5% shares of NLC India Limited; Overall Issue Subscribed 2.10 Times

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ovt. Expected to raise 750 Crore through OFS of 5% shares of NLC India Limited; Overall Issue Subscribed 2.10 Times <br>News and Press Release<br>Dated:- 27-10-2017<br><BR>The Government is likely to ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....raise &#8377; 750 crore through disinvestment of 5% of paid-up equity shares of NLC India Limited (NLCIL) through Offer for Sale (OFS) mechanism. The Government approved disinvestment of 3% equity sh....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ares of NLCIL as base offer, with an option to retain oversubscription upto additional 2% equity shares. Trading for Non-Retail portion took place on 25th October, 2017 at a floor price of &#8377; 94.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Government accordingly decided to retain the over-subscription by revising the total offer size from 3% to 5% of equity shares. Trading for retail category took place today i.e. on 26th October, 2017....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Retail investors were offered discount of 3.5% over cut-off price for non-retail category. The retail portion was subscribed 2.90 times. The cut-off price for retail category was at &#8377; 95.80 wh....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ile for non-retail shares was &#8377; 94.60. Post-disinvestment, the Government of India's shareholding in NLC will come down to 84.32%.<BR> News - Press release - PIB....