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Govt appoints merchant bankers for NMDC disinvestment

09 Nov 2012 Evaluate

The Department of Disinvestment, Ministry of Finance, Government of India has appointed merchant bankers to divest equity capital of NMDC, the country’s largest iron ore maker. The government is looking to divest 10% paid up equity capital of the company out of its shareholding of 90% through ‘Offer for Sale by promoters through the stock exchanges’ (OFS) method.

The following merchant bankers - Citigroup Global Markets India, Mumbai; Goldman Sachs (India) Securities, Mumbai; Enam Securities, New Delhi; DSP Merrill Lynch, Mumbai  and ICICI Securities, New Delhi are the one selected by the Government.

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. The company has reported a fall of 14.49% in its net profit at Rs 1678.62 crore for second quarter ended September 30, 2012 as compared to Rs 1963.15 crore for the same quarter in the previous year. Total income of the company has decreased by 10.35% at Rs 3195.06 crore for quarter under review as compared to Rs 3564.08 crore for the quarter ended September 30, 2011.

NMDC Share Price

89.78 2.60 (2.98%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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