The Government’s 5 per cent stake sale in NlC India was a big hit too among retail investors, which saw the portion reserved for them oversubscribed by 2.90 times. The share sale is expected to fetch over Rs 750 crore to the exchequer.
Institutional investors on Wenesesday bid for 3.19 times the shares fixed for them in the offer for sale (OFS). The share sale opened for retail investors on Thursday and the quota got oversubscribed 2.90 times. The Government, through the two-day OFS, sold 5 per cent stake in NlC (formerly Neyveli lignite Corporation) at a floor price of Rs 94 per share.