Government targets to sell 10 per cent stake in NMDC by mid-December, said Steel Secretary D R S Chaudhary.

“We are going ahead for the divestment of NMDC, the road shows have already started, our officials are in the road shows and we hope to divest 10 per cent in NMDC by middle of December,” Chaudhary told media persons at India International Trade Fair.

“So the plan is that if we sell 10 per cent company's equity which is with the Government, it will fetch around Rs 7,500 crore,” he added.

When asked about responses to road shows, the Secretary said, “The road shows have just started, so the team will be back on the weekend, we will know then. We feel the response should be good.”

siddhartha.s@thehindu.co.in

(This article was published on November 15, 2012)
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