Government to Sell NLC India Stake via OFS, Sets Floor Price at INR303; Shares Fall 4%

MT Newswires Live

Jun 09

The Government of India will sell up to 3% stake in NLC India (NSE:NLCINDIA, BOM:513683) through an offer for sale (OFS), comprising a base offer of 2% equity and a 1% greenshoe option, according to an Indian exchange filing on Monday.

The floor price for the share sale has been set at 303 rupees per share, the filing said. The OFS will open for non-retail investors on June 9, while retail investors can bid on June 10, it added.

Under the base offer, the government plans to sell about 27.7 million shares, representing 2% of NLC India's paid-up equity capital. An additional 13.9 million shares, equivalent to a 1% stake, may be sold if the greenshoe option is exercised, according to the filing.

Shares of NLC Indian fell over 4% in Tuesday's trade.

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An additional 13.9 million shares, equivalent to a 1% stake, may be sold if the greenshoe option is exercised, according to the filing.</p><p>Shares of NLC Indian fell over 4% in Tuesday's trade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4135","symbol_name":"资产管理与托管银行","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2642454748","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2642454748","pubTimestamp":1780985516,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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