NLC India shares in focus as OFS sees strong response; retail bidding opens today

Shares of NLC India Ltd are in focus on Wednesday after the government's offer for sale (OFS) received a strong response, with the non-retail portion subscribed 5.22 times on Day 1. Following the development, the government has decided to exercise the oversubscription option, the lignite mining and power generation maker said. Retail investors will be allowed to bid for the issue today. 

NLC India received non-retail bids of 13,03,39,482 shares against the quota size of 2,49,59,458 shares at an indicative price of Rs 319.06 per share. This was much higher than the floor size of Rs 303 per share. The floor price was set at a 10 per cent discount to NLC India's Monday closing price.

"We wish to intimate the Stock Exchanges of our intention to exercise the oversubscription option to the extent of up to 1,38,66,366 equity shares (representing 1 per cent of the total issued and paid-up equity share capital of the Company) in addition to 2,77,32,732 equity shares of the company (representing 2 per cent of the total issued and paid-up equity share capital of the company) forming part of the base offer size," NLC India informed BSE and NSE. 

Accordingly, the total offer size will be 4,15,99,098 shares, representing 3 per cent of the total paid up equity share capital of the company as on March 31, 2026. Consequently, 41,59,911 equity shares i.e. 10 per cent equity shares of the offer would be available for retail category on Wednesday, T+1 day, subject to receipt of valid bids, as part of the offer.

"Additionally, up to 25,000 equity shares may be offered to the eligible employees of the Company, in
accordance with the terms and conditions provided in the OFS guidelines (the “Employee Offer"). Additionally, up to 25,000 equity shares may be offered to the eligible employees of the Company, in accordance with the terms and conditions provided in the OFS guidelines (the “Employee Offer"). The settlement shall be done as per the existing rules of secondary market transactions," NLC India said.