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NALCO OFS To Hit Market Tomorrow At Rs 67

NALCO OFS To Hit Market Tomorrow At Rs 67 - Apply IPO

NALCO OFS To Hit Market Tomorrow At Rs 67:

The government plans to divest up to 10 per cent of its holding in National Aluminium Company Limited (NALCO) via an offer for sale on Wednesday.

The share sale is expected to raise Rs 1,350 crore for the government kitty.

The issue price has been set at Rs 67 a share.

Nalco shares on Tuesday ended nearly 2 per cent higher at Rs 73, just Rs 6 shy of its 52-week high level of Rs 79.85. The OFS announcement came after market hours.

As of March end, the government held 74.58 per cent stake in Nalco, with the remaining 25.42 per cent with the public.

In his Union Budget for FY18 unveiled early February, Finance Minister Arun Jaitley had set the disinvestment target for the year at Rs 72,500 crore. The government also plans to list three railway sector PSUs during the year.

The Finance Ministry is already scouting for merchant bankers to manage the initial public offer (IPO) of two rail engineering firms RITES and RVNL.

Market Update:

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Now Avenue Supermarts (Dmart) IPO Allotment and Listing also completed. And people made an awesome 100% profit on listing.

Now CL Educate (CLEL) IPO Allotment and Listing has completed. While now Shankara Building Products IPO Allotment and Listing also completed and it gave good 37.57% premium on first day itself. Now Next IPO can be Housing and Urban Development Corporation Ltd IPO (HUDCO) where its bidding is expected to start from May 02, 2017.

While HUDCO Grey Market Premium (GMP) also started showing movement and currently trading at Rs 29.25 – Rs 29.75 per equity share.

Next in the pipeline will be Central Depository Services Ltd IPO (CDSL IPO)  and Continental Warehousing Corporation Ltd IPO (Nhava Seva IPO).

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insurance, SBI life insurance etc.

Keep watching this blog to keep yourself updated with all the news.

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4 Comments

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  1. i applied for this OFS through my kotak securities, but i don’t know when the shares will credit in to my account and how to check whether i got the shares or not

    1. At what rate you had applied for since the ofs has been over and ideally you should have been credited that shares till now.

  2. Even I applied at a rate of Rs. 67/-. However, I havent got any confirmation till date.

    1. The cut off price was Rs 69.80 for Retail So you would not have got any allotment and your bids would have been rejected

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