The 33,22,43,200 equity shares follow-on public offer of NMDC , a navratna public sector undertaking, has been subscribed 17% on day one, as per data available on the NSE website.
The issue, which will close on March 12, has received bids for 5.71 crore equity shares. Most of the bids were at Rs 300 and Rs 301 per share.
The government has fixed the price band at Rs 300-350 per share. The offer comprises a net offer to the public of 330,500,000 equity shares of face value Re 1 each and a reservation of 1,743,200 equity shares for purchase by eligible employees. The offer shall constitute upto 8.38% of the post offer paid-up equity share capital of the company.
A discount of 5% to the offer price determined pursuant to the completion of the book building process shall be offered to retail individual bidders and eligible employees.
The book running lead managers are UBS Securities India Private Limited, Citigroup Global Markets India Private Limited, Edelweiss Capital Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited and RBS Equities (India) Limited.
The offer shares are already listed on the BSE, the NSE, the BSEL, the MSE, the CSE and the DSE. BSE is the Designated Stock Exchange for the Offer.
