The equity shares of National Aluminium Company (NALCO) crashed around 7% on the day of Offer for Sale (OFS) as the price has moved more closer to the floor price of the OFS

NALCO OFS is open for subscription for Non retail category on Apr 19 and for Retail investors on Apr 20

The decline in prices have further reduced the sheen of the OFS whose floor price is fixed at Rs.67 per share

NALCO is a leading manufacturer and distributor of aluminium products in India

Government of India has planned to divest upto 10% stake in National Aluminium (NALCO) Limited vide Offer for Sale (OFS), which will open for subscription for Non Retail category on Wednesday, April 19, 2017 and for Retail category on Thursday, April 20, 2017.

The floor price for the share sale is fixed at Rs.67/- per equity share. This is at around 8.8% discount over the closing market price of the share on BSE (Rs.73.45 per share)

NALCO is and India based manufacturer and distributor of aluminum products. National Aluminium Company Limited, abbreviated as NALCO (Incorporated in the year 1981) has units in Odisha at places like Angul and Damanjodi. It was incorporated as a public sector enterprise of the Ministry of Mines, Government of India.

The company is Asia's largest and the sixth largest, integrated aluminium complex, encompassing bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations

Click the links given below to check out more details on OFS

• NALCO (Offer for Sale) Official BSE Notice Extract
• NALCO Offer for Sale (OFS) Details

All Market Participants are hereby informed that, The President of India acting through and represented by the Ministry of Mines, Government of India, (the “Promoter”) proposes to  sell up to  9,66,46,444 (5%) equity shares of the Company of face value of INR 05/- each with an additional option to sell up to 9,66,46,444 (5%) equity shares of the company  ("Offer Shares"), on April 19, 2017 (for non-Retail Investors) and April 20, 2017 (for Retail Investors and for non-Retail Investors who choose to carry forward their bids)


The Floor Price for the Offer shall be INR 67/- (INR Sixty Seven Only) per equity share.


The Seller/Promoter will intimate the Exchange of its intention to exercise the Oversubscription (additional issue size) after trading hours (i.e. on or before 6.00 PM) on T day (April 19, 2017).

BSE is the Designated Stock Exchange for the issue.