Union Cabinet approves disinvestment of 15% in NBCC

Jul 14, 2016 12:36 IST

The Cabinet Committee on Economic Affairs (CCEA) on 13 July 2016 approved the disinvestment of 15% paid up equity of National Buildings Construction Corporation Limited (NBCC). At present, Union Government holds 90 percent shareholding of the corporation (i.e. 54 crore share).

This disinvestment would help the government to earn about 1706 crore rupees.

However, the actual realization amount will depend upon the market conditions and the investor interest prevailing at the time of actual disinvestment.

Besides, in order to inculcate a sense of belongingness amongst the employees of NBCC, it has also been decided to allot additional shares to the eligible and willing employees at a discount of 5% to the Issue/discovered (lowest cut-off) price of the OFS.

National Buildings Construction Corporation Limited (NBCC)

NBCC, a Navratna company, was incorporated on 5 November 1960 as a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of Urban Development. It was established with the objective of becoming a leading company in the field of construction, engineering and project management consultancy services.

The NBCC IPO (Initial Public Offer) was launched in March 2012, when the GoI divested 10% paid up equity capital of NBCC out of its 100% shareholding and got the Company listed on the stock Exchanges.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes3 People Agreed

Latest Videos

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK