Centre to sell ₹3,621-crore stake in NMDC
The Hindu
The Centre proposes to sell more than 11.72 crore shares, representing 4% of the equity, in mining major NMDC at a floor price of ₹165 each through an Offer for Sale to non-retail investors that opens
The Centre proposes to sell more than 11.72 crore shares, representing 4% of the equity, in mining major NMDC at a floor price of ₹165 each through an Offer for Sale to non-retail investors that opens on Tuesday. Under the oversubscription or the green-shoe option, it intends to sell an additional 10.22 crore shares corresponding to 3.49% equity to retail investors as well as those non-retail investors who choose to carry forward their unallotted bid. From the proposed sale of 7.49% equity, to both institutional and non-institutional investors, the government stands to mobilise over ₹3,621 crore. The Centre holds 68.29% stake in the company. On Monday, NMDC shares closed 4.13% lower at ₹175.30 each. The intra day high was ₹184.
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