Nevyeli Lignite stake sale finalized - Indian IPO Blog

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Monday, July 30, 2012

Nevyeli Lignite stake sale finalized

Department of Disinvestment (DoD) has finally finalised to sell 5% stake in Neyveli Lignite, CNBC-TV18 reported. Due to the poor market conditions, the government has not been able to launch the Rs 30,000-crore disinvestment programme for the current fiscal so far. The government currently holds 93.56% in NLC. The company is expecting to raise about Rs 500-600 crore by the stake sale. The company will also offer 5% discount to employees.

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