Govt sells 5% stake in NLC
Five percent stake of NLC India Ltd (NLCIL), formerly known as Neyveli Lignite Corporation (NLC) was proposed to be sold. The company comes under Ministry of Coal.The President of India, acting through and represented by the Ministry of Coal, Government of India, is the promoter of NLC India Limited (the "Promoter"). The Promoter (the "Seller") proposed a sale of approximately 764 million...
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Five percent stake of NLC India Ltd (NLCIL), formerly known as Neyveli Lignite Corporation (NLC) was proposed to be sold. The company comes under Ministry of Coal.
The President of India, acting through and represented by the Ministry of Coal, Government of India, is the promoter of NLC India Limited (the "Promoter"). The Promoter (the "Seller") proposed a sale of approximately 764 million equity shares of NLC India Limited amounting to 5% equity shares by the President of India, acting through the Ministry of Coal.
The total amount that can be summed after consideration would be nearly $111 million. It is a deal by the Capital Market segment.
AZB & Partners advised the Ministry of Coal along with the Partners Madhurima Mukherjee and Agnik Bhattacharyya.
