The Union Government is planning to dilute 10 per cent stake in National Aluminium Company (Nalco) through the offer-for-sale route. The Centre has fixed the floor price at Rs 67 a share. The offer opens on April 19, 2017 for institutional investors and on April 20, 2017 for retail investors.
Through the issue, the government is planning to sell 9.66 crore shares. Allotted retail investors will be getting a discount of 5 per cent to the cut-off price.
NALCO has the largest integrated alumina-aluminium complex of Asia. Its integrated operations cover the entire aluminium production value chain from mining bauxite, refining alumina, smelting aluminium, captive power generation to a strong logistic network in terms of rail & port facilities, coal mining and handling plant to support its operations and to become one of the most cost-efficient aluminium companies across the globe.
