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India’s finance ministry may sell up to 10 percent stake each in NLC India (formerly Neyveli Lignite Corporation), Mazagon Dock Shipbuilders and Indian Railway Finance Corporation via the offer for sale route before March 31 to add to its disinvestment proceeds for FY24, a senior official said.

“The government will bring out OFS during January-March. OFS in NLC India is likely. MDL and IRFC are also there. The OFS route will be to sell not more than 10 percent government stake in these PSUs. Also, the Centre needs to space out the OFS because the market has to absorb it,” the official told ..

Some stake sales may be kept for next year’s disinvestment, the official said.

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