Companies

NLC follow-on public offer likely within one year

Our Bureau  Chennai | Updated on November 12, 2017 Published on August 14, 2011



Neyveli Lignite Corporation's follow-on public offer is likely within one year, the public sector company's Chairman and Managing Director, Mr A.R. Ansari, has told Business Line.

NLC got its ‘Navratna status' in April, a tag that gives a public sector company financial autonomy. One of the conditions of the Navratna status grant is that the Government would up to 10 per cent to the public. Public shareholding in NLC is 6.54 per cent.

Although, the Government has three years' time, NLC's FPO could happen much earlier – within one year, Mr Ansari said.

Published on August 14, 2011
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