MMTC has launched its one-day offer-for-sale (OFS) at a floor price of Rs 60, which represents 72% discount to its closing price of Rs 211.45 on June 12. The government will kick start its divestment programme for this fiscal with a 9.33 per cent stake sale in MMTC, which may fetch the Center around Rs 600 crore.
For the year ended March 31, 2013, the company has reported a net loss of Rs 70.62 crore in FY13 as against a net profit of Rs 70.72 crore in previous years. Total income from operations of the company has decreased to Rs 28916.27 crore as compared to Rs 67051.89 crore in FY12, down by 56.87%.
