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Wednesday, April 19, 2017

National Aluminium Company (NALCO) Offer for Sale (OFS) - NSDL Announcement

Government of India has made an announcement to sell up to 10% of National Aluminium Company Limited (ISIN INE139A01034) through offer for sale (OFS) mechanism.

The key details in this context are given below:

Name of seller: The President of India, acting through and represented by the Ministry of Mines, Government of India

Name of company whose shares are proposed to be sold: National Aluminium Company Limited (ISIN INE139A01034)

Name of stock exchanges where orders shall be placed: NSE and BSE

Date and time of opening the offer for retail investors: April 20, 2017 at 9.15 a.m.

Date and time of closing the offer for retail investors: April 20, 2017 at 3.30 p.m.

Floor Price: Rs.67 per share

Retail Discount: Retail investors will be allocated offer shares at the discounted price i.e. at a discount of 5% to the Cut-off price in accordance with the OFS Guidelines. The discounted price, which shall be the final allocation price to the Retail investors, may be below the floor price
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