The Finance Ministry on Wednesday said the government’s 12.5 per cent stake sale offer in Nalco will hit the markets on March 15, which could mop up around Rs.1,400 crore to the Exchequer.
The share sale through the offer for sale (OFS) route will be held on Friday, Disinvestment Secretary Ravi Mathur told reporters here after an Empowered Group of Ministers (EGoM) meeting.
The EGoM on disinvestment, headed by Finance Minister P. Chidambaram met on Wednesday and decided on the base price for the share sale. He, however, did not disclose the base price for the issue.
Shares of Nalco closed at Rs.46.30 on Wednesday, up 2.32 per cent over previous close on the BSE.
The Department of Disinvestment (DoD) has held roadshows in Singapore, Hong Kong, Japan, the U.S. and the U.K. on February 19 for disinvestment of the state-run aluminium company.
The government at present holds 87.15 per cent stake in Nalco and post-disinvestment, it will come down to 75 per cent.