首页|Centre charts three-stage Nalco divestment plan
Centre charts three-stage Nalco divestment plan
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NSTL
The Union government has chalked out a three-stage plan for disinvesting National Aluminium Company (Nalco). Out o its 87.15 per cent holding in, the aluminium major, the government plans to divest 10 per cent through a domestic issue in the first stage.The second stage would involve a divestment of 20 per cent through an ADR issue, to be followed by a strategic sale of the remaining 29.15 per cent in the third stage. This would bring down the government holding to 26 per cent, after factoring a 2 per cent reservation for employees. Sources in Nalco said that the decision to offload a 29.15 stake to a strategic investor was taken on last week. The government invited expressions of interest from merchant bankers with expertise in divestment through capital market offerings (domestic and ADRs), and strategic sales, to act as a global co-ordinator and advisor.
NSTL
