NLC India Limited shares fell sharply on 9 June, sliding to a day low of Rs 320.00 on the NSE, after the government opened an offer for sale to divest up to 3% of its stake in the company.

The Centre, acting through the Ministry of Coal, launched the OFS at a floor price of Rs 303 per share. That’s a discount of nearly 10% to Monday’s closing price of Rs 336.40, and that kind of gap is enough to make investors nervous. 

The initial offer covers a 2% stake, which works out to around 2.77 crore shares. There’s also a greenshoe option to sell an additional 1%, or 1.38 crore shares, if demand holds up.

June 9 was open only for non-retail institutional investors. Retail investors and eligible employees get their turn on June 10. 

Retail investors have 10% of the OFS shares set aside for them, employees can bid for up to 25,000 shares, and employees also get a 5% discount to the final cut-off price. ICICI Securities and DAM Capital Advisors are managing the sale.

The government currently holds a 72.2% stake in NLC India. With this sale, the Centre is looking to raise about Rs 1,260 crore if the entire 3% stake, including the greenshoe option, is sold. 

The OFS follows similar stake sales the government recently carried out in Coal India, NHPC and Central Bank of India.

NLC India’s stock is up nearly 26% year to date, with a 52-week high of Rs 387.80 touched in May 2026. At 10:10 am on 9 June, shares were trading down 4.02% at Rs 322.15 on the NSE, off the day’s low of Rs 322.20.

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