NMDC gets robust response for OFS

Our Bureau New Delhi | Updated on January 09, 2018 Published on January 09, 2018

Giving a robust response to the disinvestment in state-owned NMDC, institutional investors on Tuesday put in bids for over 6.36 crore shares amounting to ₹976 crore in the offer-for-sale.

Based on the response, the government has now decided to increase the issue size to 2.52 per cent, source said. This would help the government raise nearly ₹1,200 crore from the stake-sale.

The Centre had originally planned to sell 1.5 per cent stake in NMDC with a greenshoe option to further sell an equal amount.

Data from the NSE showed that the issue was subscribed 1.68 times.

The OFS will open for retail investors on Wednesday and they will also get a 5 per cent discount.

On Monday, NMDC stock closed at ₹ 154.70, down 4.42 per cent, on the NSE.

Published on January 09, 2018
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