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Business EconomyPosted at: Oct 21 2016 7:41PM


Govt share in NBCC to come down to 75 pc

New Delhi, Oct 21 (UNI) The National Building Construction Corporation (NBCC) offer for sale got oversubscribed 1.54 times in non-retail category and 1.50 times in retail category at the sixth CPSE disinvestment of the fiscal year 2016-17 which was completed today.
With this disinvestment, the government share in NBCC will come down to 75 per cent.
On offer was 15 per cent paid-up equity capital of the company comprising 9,00,00,000 shares, each of FV of Rs 2. Out of the shares on offer for sale, 20 per cent were reserved for retail investors. The closing price on October 19 was Rs 253 (BSE)/ Rs 253.30 (NSE) and floor price was fixed at Rs 246.50.
As per the new SEBI guidelines, only non-retail investors were allowed to place their bids on October 20 (T Day) for non-retail portion, and retail investors were allowed to bid today (T+1 day).
At the end of the day with total subscription of Rs 3098 crore against Rs 2218 crore (at floor price), the NBCC OFS stood oversubscribed by 1.4 times.
The highlight of the issue has been the encouraging FII participation of Rs 369.21 crore which works out to be 21 per cent of the non-retail basket.
UNI NAZ SW 1947
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Tags: #Govt share in NBCC to come down to 75 pc
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