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Cabinet clears 15% stake sale in NBCC

By IndianMandarins- 14 Jul 2016
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cabinet-clears-15-stake-sale-in-nbcc The Cabinet Committee on Economic Affairs has approved the disinvestment of 15% paid up equity of National Buildings Construction Corporation Limited (NBCC). The Government holds 90% of the company's shareholding. The stake sale at the current value would fetch in Rs.1,706 crore. However, the actual realization amount will depend upon the market conditions and the investor interest prevailing at the time of actual disinvestment. The disinvestment would further broadbase NBCC's shareholding. To inculcate a sense of belongingness among the employees of the company, additional shares will allotted to the eligible and willing employees at a discount of 5% to the Issue/discovered (lowest cut off) price of the OFS.

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