The proposal currently on the table includes a 2% base offer for sale of paid-up equity, supplemented by a 1% green-shoe option. Vijay argues that diluting government ownership in such a foundational enterprise sets a dangerous precedent for the management of state-linked infrastructure. In his communication to the Prime Minister, the Chief Minister underscored that NLC India remains a pillar of regional mineral development and national power stability.
Beyond the fiscal arguments, the state government emphasizes its historical role in establishing the corporation's operations. Vijay maintains that entities built through intensive local cooperation should stay under public control to safeguard the interests of both the state and the broader national economy. He is now seeking a comprehensive reevaluation of the policy to prevent the erosion of government oversight in the energy sector.
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