India to Sell Up to 3 Percent Stake in NLC India
The Indian government plans to divest up to a 3% stake in NLC India through an offer for sale starting June 9. The floor price is set at 303 rupees per share, representing a 9.8% discount to the recent closing price as part of a broader 800 billion rupee annual divestment target.
Insights:
India will sell up to a 3% stake in NLC India via an offer for sale to raise capital. The transaction includes a 2% base offer with a 1% oversubscription option, reducing the state's 72.2% holding. This divestment helps New Delhi progress toward its 800 billion rupee ($8.36 billion) annual asset monetization target for fiscal 2027.
