Indian government plans to sell up to 7% stake in NLC India, aiming to raise ₹2,200 crore through OFS.
The Indian government plans to sell up to a 7% stake in coal miner NLC India, aiming to raise up to ₹2,200 crore ($266 million) through an offer for sale (OFS) this week. The government will initially offer 5% of its stake with an option to sell an additional 2% if there is more demand. NLC India's shares have nearly tripled over the past year. The Indian government also aims to sell shares worth at least ₹18,000 crore in the fiscal year ending this month, but has divested shares worth ₹12,600 crore in state-owned companies so far.
March 06, 2024
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