Skip to main content

MoneyWorks4Me

Government to divest 1.5% in NMDC

09 Jan 2018 Evaluate

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.


Peers
Company Name CMP
Coal India 398.70
NMDC 68.45
Ashapura Minechem 423.80
Sandur Manganese 163.15
GMDC 439.35
View more..