Five Public Sector Companies of TN Purchase Stake in NLC Disinvestment Friday Aug 2,2013

Five Public Sector Companies of Tamil Nadu - – TIDCO, SIPCOT, TIIC, Powerfin and TUFIDCO purchase the stake in NLC Disinvestment on Friday Aug 2,2013

Though only 3.56 % NLC equity was for sale, the PSUs had bid in excess as a precautionary measure against any error. The price band of the one-day offer was Rs.58-60 per share. According to sources, the five entities quoted Rs.60 each share


Note
The NLC divestment was necessitated for complying with the 10 % minimum public shareholding norm in PSUs