Govt to sell up to 3% stake in NLC India
The Centre on Monday announced an offer for sale (OFS) of up to 3 per cent of its stake in state-owned NLC India, aiming to comply with public shareholding norms and raise funds through the divestment route.
According to a notice issued by the Ministry of Coal, the Centre will sell up to 41.6 million shares, or 3 per cent of NLC India’s equity capital. The floor price for the OFS has been set at ₹303 against the stock’s last closing price of ₹336.
The Centre has also retained an oversubscription option to sell an additional 13.87 million shares, representing a 1 per cent stake. If exercised in full, the total offer size will increase to 55.47 million shares, or 4 per cent of the company’s equity capital.
The OFS will open for non-retail investors on June 9, while retail investors and eligible employees can bid on June 10. Up to 10 per cent of the offer shares will be reserved for retail investors.
Carlsberg prepares to file for $700 million India IPO
Carlsberg A/S is preparing to file draft papers for an initial public offering (IPO) of its India unit as early as this month, according to people familiar with the matter.
The potential listing could raise as much as $700 million, the people said, asking not to be identified because the information is private. Carlsberg is working with Kotak Mahindra Capital Co and the local units of JPMorgan Chase & Co and Citigroup Inc on the proposed share sale, the people said.
The IPO is expected to consist of a secondary share sale by the Danish brewer and could take place later this year, according to the sources. Deliberations are ongoing and details, including the size, structure and timing of the transaction, could still change.
Day 2: Hexagon Nutrition issue booked 4.6x
The initial public offering (IPO) of Hexagon Nutrition was subscribed 4.59 times on the second day of bidding on Monday.
The ₹139 crore IPO received bids for 99.1 million shares against 21.6 million shares on offer, according to NSE data.
The non-institutional investors’ category was subscribed 6.70 times, while the retail portion was booked 6.21 times. The qualified institutional buyers’ (QIBs’) quota was subscribed 17 per cent.
The public issue is entirely an offer for sale (OFS) of more than 3.08 crore equity shares by promoters.
