The much-hyped National Aluminium Company Ltd (Nalco) disinvestment process will soon hit the road with the government inviting expressions of interest (Eols) from bidders. The government has put up its 29 per cent equity in the PSU for sale. It will simultaneously make a public offer of 10 per cent of the company's shares, which will be followed by an American Depository Receipt (ADR) issue of 20 per cent. The three-phase divestment in Nalco would bring down the government equity in the company from 87.15 per cent to 26 per cent. The advertisements inviting Eols for the strategic sale appeared on August 12. The domestic issue would be completed a couple of months before the strategic sale. The execution of strategic sale would take six to eight months while the public issue would take about four months, according to an official in the Cabinet Committee on Disinvestment (CCD).
NSTL
