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.
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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.
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