The government is all set to sell 12.5% stake in Nalco on March 15, 2013 through OFS route. The sale of 12.5% stake or 31.31 crore shares of the company is expected to fetch around Rs 1,400 crore to the exchequer at the current market price. At present, the government holds 87.15% stake in the company and post disinvestment, it will come down to 75%.
The Department of Disinvestment (DoD) has held roadshows in Singapore, Hong Kong, Japan, the US and the UK on February 19 for disinvestment of the state-run aluminium company. The government had in November last year deferred disinvestment of Nalco citing poor second-quarter performance which raised valuation concerns and said the stake sale would happen only after the third quarter results.
