Govt to select merchant bankers for extra 10% stake sale in NMDC

The government has said that it's going to select merchant bankers for an additional 10 percent stake divestment in state-run mining giant NMDC, learns CNBC-TV18.

The four bankers who will be selected on Friday will manage an offering which is expected to contribute just less than Rs 4,000 crore to the government exchequer. About 5 percent of the offer-for-sale reserved for its employees who will get a 5 percent discount over the issue price.Watch video for more