NLC India shares at Rs 22 discount in OFS!

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NLC India’s Offer for Sale (OFS) is underway. Monday, March 11, 2024, is the only day for retail investors to subscribe to the OFS. On Thursday, March 07, 2024 i.e. on the first day of the OFS, non-retail investors or institutional investors were allowed to apply for the subscription. The stake sale process received decent response from this segment. The non-retail quota was subscribed almost three times its size. At the time of writing this article, NLC India’s scrip traded at around Rs 235 apiece on the BSE. Retail investors can still avail of around Rs 22 discount on every share if they bid under the OFS. This is because the PSU has kept the floor price at Rs 212 per share.

Floor price means the minimum bid price at that investors can apply under the OFS.

Where can you apply for NHPC’s OFS?

You can apply for any OFS on your stock broker’s platform such as Zerodha, ICIC Direct, Sharekhan, Groww etc. You can follow the prompts on the platform and apply.

Bidding time:

Bidding time for any OFS is from 9:15 am to 3:30 pm.

When will you get allotment of shares in the OFS?

In an OFS, if you get allotment of shares, then, shares will be credited to your demat account on the next trading day i.e. T+1 day. So, in case of this particular OFS, you can get allotment of shares on next trading day after the close of the issue on Monday, March 11, 2024.

How can you check status of the allotment of shares?

If the shares under the OFS have been allotted to you, then, after 6 pm at the end of the day of offer, you will get a notification in your broker’s platform that you have got the allotment. You can log in to your profile and check it out.

Allotted shares will reflect in your portfolio on next trading day of the offer.

How many shares you can bid for in an OFS?

A retail investor can invest maximum of Rs 2 lakh in any company’s OFS. While, there is no requirement of placing bid for minimum number of shares.

At what price will you get credit of shares in OFS?

Watchout! It is not necessary that you will get the shares at the floor price as fixed by the company. Shares can also be allotted at higher than the minimum bid price, as according to market watchdog Sebi, the shares can also be allotted to the applicant at higher than the floor price if lot of people had applied for it.

According to Sebi, the allotment price can be changed according to demand and supply dynamics in the stake sale process.

Will any charges be levied?

Yes, STT, transaction charges and GST will be levied on your order.

Did you know?

Only top 200 listed companies by market capitalisation are allowed to bring OFS in the country.