Centre to offload up to 3% stake in NLC India. Retail investors can bid from June 10 - Check floor price

The Centre on Monday announced an Offer for Sale (OFS) in state-run NLC India Ltd, seeking to divest up to 3% of its equity through a two-day process beginning June 9.

The Department of Investment and Public Asset Management (DIPAM) said the OFS comprises a base offer of 2% equity, with an additional 1% green shoe option that may be exercised in the event of oversubscription.

"Government of India announces OFS in NLC India Limited (formerly Neyveli Lignite Corporation) with a base offer of 2% of its equity and an additional 1% Green Shoe Option in case of oversubscription," the DIPAM Secretary said in a post on X.

The floor price for the share sale has been fixed at ₹303 per share.

The offer will open for non-retail investors on June 9, while retail investors will be able to participate on June 10. 

Highlighting the company's performance, the DIPAM said NLC India continues to offer a strong investment proposition. "With strong operational and financial performance, consistent returns and attractive dividends, NLC continues to offer a compelling long-term investment opportunity." 

NLC India, formerly known as Neyveli Lignite Corporation, is a public sector enterprise engaged in mining and power generation. The OFS is part of the government's ongoing disinvestment programme aimed at monetising holdings in public sector companies while broadening investor participation.

NLC India shares ended nearly flat at around ₹336.40 apiece on June 8.