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Govt to sell up to 4% stake in NMDC via OFS; fixes floor price of Rs 165 per share

The floor price for the offer shall be Rs 165 per equity share, NMDC informed the stock exchanges.

July 06, 2021 / 08:15 AM IST
The fourth, fifth, sixth and seventh prize winners will get Rs 5,000, Rs 1,000, Rs 500 and Rs 100, respectively.

The fourth, fifth, sixth and seventh prize winners will get Rs 5,000, Rs 1,000, Rs 500 and Rs 100, respectively.

 
 
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State-owned miner NMDC announced government plans to offload 4 percent stake in the company through an offer for sale (OFS) which opens for subscription on Tuesday.

The floor price for the offer shall be Rs 165 per equity share, NMDC informed the stock exchanges.

The President of India, acting through and represented by the Ministry of Steel, Government of India, is the promoter of NMDC Ltd, the company said.

"The promoter proposes to sell up to 11,72,24,234 equity shares of the company, (representing 4 percent of the total issued and paid up equity share capital of the company on July 6 for non-retail investors and on July 7 for retail and non-retail investors who choose to carry forward their un-allotted bids with an option to additionally sell 10,22,78,144 equity shares representing 3.49 percent of the total issued and paid-up equity share capital of the company," it said.

The floor price for the offer shall be Rs 165 per equity share, it added.

Close

On Tuesday, the offer shall take place during trading hours on a separate window of the stock exchanges at 9:15 AM and shall close at 3:30 PM.

It will continue to take place during trading hours on a separate window of the Stock Exchanges on Wednesday from 9:15 AM and close at 3:30 PM on the same day.

NMDC, under the Ministry of Steel, is country''s largest iron ore mining company.

President of India holds 68.29 percent stake in the company.

(With PTI inputs)
Moneycontrol News
first published: Jul 6, 2021 08:15 am

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