The government will begin sale of 1.5% stake in NMDC at a floor price of Rs 153.50 a piece, with an option to retain over-subscription of equal quantum. The two-day offer for sale (OFS) will open for institutional investors on January 9 and for retail investors on January 10.
The sale of 1.5% would fetch Rs 750 crore to the exchequer. The stake sale will have a green-shoe option to retain over-subscription of a further 1.5%.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
