Giving a steep discount of nearly 10 per cent, the Central Government, on Thursday, fixed Rs.40 a share as the floor price for up to 10 per cent stake sale in aluminium major Nalco, which would fetch a minimum of Rs.1,031 crore.

The offer for sale is scheduled to be held on Friday through a special window on the BSE and the NSE. “With reference to the earlier announcement dated March 13, 2013, regarding Offer for Sale of shares by promoter, the President of India,... has now informed the BSE that the floor price for the sale... shall be... Rs.40 per equity share,” Nalco said in a filing to the BSE.

More In: Industry | Business