The Centre’s disinvestment in NBCC will raise ₹ 2,200 crore from the 15 per cent disinvestment in NBCC despite a not so enthusiastic response from retail investors who on Friday.

Retail investors bid for only 1.47 crore or 82 per cent of the total 1.8 crore shares reserved for them, according to data with the Bombay Stock Exchange. Institutional investors bid for the balance shares.

Retail investors were offered a five per cent discount to the share allotment price.

Shares of NBCC fell by 3.92 per cent and closed at ₹ 241.3 apiece.

The Centre had put on offer 9 crore equity shares of the public sector unit in the two-day disinvestment. Of the 7.2 crore shares offered to institutional investors on Thursday, the government had received bids for 11.08 crore shares.

According to the guidelines of the offer for sale, any unsubscribed portion of retail segment can be allocated to excess bids by institutional investors.

The Government of India currently holds 90 per cent stake in NBCC and post disinvestment, it will meet the Sebi norms that mandate state run firms to have a minimum public holding of 25 per cent.

The OFS will be open to NBCC employees after 12 weeks from the completion of the current disinvestment.

This was the third disinvestment in a public sector unit by the Centre this fiscal and will take up its revenue from minority stake sales to about ₹ 5,300 crore. It has targeted raising ₹ 36,000 crore from minority stake sales in PSUs this fiscal and another ₹ 20,500 crore from strategic stake sales.

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