India to sell up to 3% stake in NLC India

NLC India

08/06/2026 16:25

June 8 (Reuters) - The Indian government will sell up to a 3% stake in mining and power generation firm NLC India NLCI.NS via an offer for sale, according to an X post from the secretary of India's Department of Investment and Public Asset Management (DIPAM).

Here are some details:
The OFS consists of a base offer of up to a 2% equity stake in NLC India, with the option to sell an additional 1% in case shares are oversubscribed. The Indian government holds a 72.2% stake in the company, as of March 31.
An OFS allows large shareholders of listed companies to sell shares to the public through stock exchanges without issuing new shares.
The floor price has been fixed at 303 Indian rupees ($3.17) per share, implying about a 9.8% discount to NLC's last closing price. 
The OFS opens for non-retail investors on June 9, and for retail investors on June 10. 
The stake sale is part of the Indian government's broader divestment and asset monetisation program. In the Union Budget for fiscal 2027, the government set a divestment and asset monetisation target of 800 billion rupees for the year.     
($1 = 95.7075 Indian rupees)
 
 

 (Reporting by Anuran Sadhu in Bengaluru; Editing by Diti Pujara)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))