NLC India OFS, June 9 -- Navratna PSU NLC India stock declined almost 5% on Tuesday, 9 June after the Government on Monday unveiled an Offer for Sale (OFS) in the firm, formerly known as Neyveli Lignite Corporation, offering up to a 3% stake in the state-run company, including a green shoe option. The move comes on the back of successful stake sales in NHPC, Coal India and Central Bank of India, as the government continues to push ahead with its disinvestment programme in FY27.

The stock fell as much as 4.6% to its day's low of Rs.320 on BSE. The stock has lost 7% in last 1 week and 2% in last 1 month. Meanwhile, it has added 35% in 3 months and over 33% in the last 1 year.

The OFS consists of a base offer of 2% equity and an additional...