Offer for sale of Government’s shares in TCL elicited huge response

Even on the first day of its launch the offer for sale of the Government’s shares in TCL received huge response. The issue was subscribed by 2.19 times of its base size by the non-retail investors. For the retail investors the bidding process will open today.

While launching the scheme, the government decided to exercise green shoe option. The option provides the issuer with a provision to offer more shares than the initially decided.