NMDC launches two-day OFS, govt to divest 1.5 pc in shares

New Delhi, Jan 9: The government has decided to divest 1.5 per cent stake in the state-run company National Mineral Development Corporation(NMDC), aggregating Rs 750 crore and has launched two-day offer for sale (OFS) on Tuesday which will close tomorrow. 

The offer is at a floor price of Rs 153.50 a piece, with an option to retain over-subscription of equal quantum.
“The government proposes to sell up to 4.74 crore (1.5 per cent) equity shares of the face value of Re 1 each in NMDC,” the company had said in a filing to the stock exchange on Monday. 
The OFS is open for institutional investors on Tuesday and for retail investors on Wednesday.
The government has already raised over Rs 52,500 crore in current fiscal through stake sale in public sector units (PSUs), including listing of insurance PSUs and exchange traded fund. It has set an ambitious target of raising Rs 72,500 crore for disinvestment in the current fiscal. UNI