NALCO Offers allotment of equity shares to eligible employees of as per CCEA approval

In accordance with the approval given by Cabinet Committee on Economic Affairs on October 25, 2012, Govt. of India offers upto 1,56,56,730 equity shares of face value of Rs. 5/- to the eligible employees of National Aluminium Company Ltd (NALCO) at a discounted price Rs. 38/- per equity share (5% discount to the cut-off price of Rs.40/-, discovered in the Offer for Sale of equity shares of NALCO carried out by Govt. of India on March 15, 2013). The Dept. of Disinvestment, Ministry of Finance, Govt. of India vide their letter dated March 25, 2014 has advised NALCO to complete the formalities for issue of shares to the eligible employees latest by May 31, 2014.

In connection with the above, action has been taken by NALCO for sale of equity shares to the eligible employees of NALCO by the Govt. of India. The offer shall remain open from May 15, 2014 to May 22, 2014 (both days inclusive). In this regard, a the Company has submitted a copy of the circular, issued to all eligible employees.

Shares of NATIONAL ALUMINIUM CO.LTD. was last trading in BSE at Rs.42.65 as compared to the previous close of Rs. 41.15. The total number of shares traded during the day was 771558 in over 7577 trades.

The stock hit an intraday high of Rs. 43.95 and intraday low of 41.5. The net turnover during the day was Rs. 33121370.

Source : Equity Bulls

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