In a boost to the Government's disinvestment programme, stake sale offers in Neyveli lignite, STC and ITDC on Friday got fully subscribed garnering Rs 395 crore for the exchequer.
The 3.56 per cent stake sale in Neyveli lignite Corporation (NlC) fetched Rs 360 crore to the exchequer with all of the shares being picked up by five Tamil Nadu government firms.
Besides, the sale of 5 per cent stake, or 42.88 lakh shares, in ITDC fetched over Rs 30 crore. Another Rs 4.54 crore came in from STC disinvestment of 1.02 per cent, or 6.13 lakh shares.
The stake sale would now make the three PSUs compliant to the minimum 10 per cent public holding norm of market regulator Sebi. Post stake sale, government's holding in the PSUs has come down to 90 per cent.