Mumbai, June 9 -- The President of India, acting through the Ministry of Coal, is offering up to 2.77 crore equity shares, representing 2% of NLC India's paid-up equity capital, as the base offer. The government has also retained an oversubscription option to sell an additional 1.39 crore shares, equivalent to another 1% stake.

If the greenshoe option is fully exercised, the total offer size will rise to 4.16 crore shares, representing 3% of the company's equity capital.

At the floor price of Rs 303 per share, the base offer is valued at about Rs 840 crore. Including the oversubscription option, the total issue size could increase to nearly Rs 1,260 crore.

The floor price has been set at Rs 303 per share, a discount of 9.73% to the pre...