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Govt fixes Nalco divestment floor price at Rs 40 per share

15 Mar 2013 Evaluate

Government has fixed a floor price at Rs 40 a share for aluminium major National Aluminium Company (Nalco) disinvestment of 10% stake via offer-for-sale route. The price fixed by Empowered Group of Ministers (EGoM), headed by Finance Minister P. Chidambaram, is at a discount of a little over 10% over Nalco stock’s closing price of Rs 44.25 on Thursday i.e, March 14, 2013.

The offer for sale is scheduled to be held on Friday through a special window on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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.

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