Awaiting govt's final call on divestment: NALCO

The government is considering divesting 10% stake in the state-owned National Aluminium Company Ltd (NALCO). Post a 10% stake sale, the government will hold 77.15% in Nalco. The 10% stake at the current market price is valued at Rs 2566.9 crore.

Commenting on it, Director Finance of the company BL Bagra says that the Ministry of Finance has made a reference to the Ministry of Mines for the same. However, he says, the company has not got a final decision on it yet. “We are waiting for clarity from government for divestment,” he adds. Bagra further says that any divestment will be offer for sale by government and not the company.

Talking on the company’s current cash position, Bagra says NALCO is cash sufficient and it does not need to tap equity markets. “We don’t need any cash from equity for capital expansion for the next two years.”