Home Business Govt raises Rs 1,200 cr through sale of 9.2% stake in NALCO

Govt raises Rs 1,200 cr through sale of 9.2% stake in NALCO

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The government today raised 1,200 crore rupees through the sale of 9.2 per cent stake in National Aluminum Company Ltd ,NALCO. In the disinvestment, the offer for sale was pegged at 5 per cent of paid-up capital, but seeing the overwhelming response from the market, the government exercised the option to retain over-subscription and raised the offer to 9.2 per cent yesterday.

With this transaction, the Government’s shareholding in the NALCO has come down to 65.37 per cent. An official release said, the government has set a record target of realizing 72,500 crore rupees through disinvestment during this fiscal. In 2016-17, the government had fetched 46,247 crore rupees from disinvestment.

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