Offer for sale of Govt shares in TCL received huge response on 1st day of its launch

The offer for sale of Government shares in TCL received huge response on the first day of its launch. The issue has been subscribed 2.19 times of its base size at a clearing price above the floor price by the non-retail investors. Government has decided to exercise the green shoe option which provides the issuer with a provision to offer more shares than initially decided while launching the scheme. The bidding process for retail investors will open tomorrow.