Analysts cautious on NLC OFS over rich valuations

On the first day of the offer for sale (OFS) on Thursday, the non-retail investor category was subscribed 2.92 times. The government is selling as much as 97 million shares (including the green shoe option) in the OFS and has set the floor price at ₹212 a share. The stock fell 3.3% to ₹219.10 on Thursday.

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