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18 October, 2017 02:15 IST
Nalco plunges as Govt to offload stake via OFS
Source: IRIS | 19 Apr, 2017, 10.22AM
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National Aluminium Company (NALCO) witnessed a fall in share price on Wednesday after the government stake sale of up to 10% in the aluminium company through an offer for sale (OFS) begins today.

The company has fixed floor price of Rs 67 for the OFS. The floor price is 8.8% lower against Tuesday closing price of Rs 73.45 on BSE.

''The promoters (the government owns 74.58% and the rest are with the public) will sell 5% aggregating 96.7 million equity shares with an additional option to sell up to 96.6 million shares (5%) equity shares of the Company, through OFS on Wednesday,'' Nalco (Q,N,C,F)* said in a BSE filing.

Shares of National Aluminium Company are trading at Rs 68.95, down Rs 4.5, or 6.13% at the Bombay Stock Exchange (BSE) on Wednesday at 10:08 a.m.

The scrip has touched an intra-day high of Rs 69.30 and low of Rs 68.30. The total volume of shares traded at the BSE is 470,327.

Total volume of shares traded on the bourses today was lower by 68.86% to 470,327 compared with 22-day average volume of 1,510,285.

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