India's 5 pct share auction in NALCO fully covered - exchange data

Last Updated: Fri, Mar 15, 2013 10:56 hrs

An auction of 5 percent stake in state-run National Aluminium Co Ltd was fully covered on Friday, provisional data from the National Stock Exchange showed.

The Indian government is selling 128.86 million shares, or 5 percent of the company's stock, with an option to sell another 5 percent, at a minimum bid price of 40 rupees per share.

By 3.05 p.m. (0935 GMT), the single-day auction had received bids for 132.14 million shares at an indicative weighted average price of 40.01 rupees per share. Final bid numbers will be available later on Friday.

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