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The Government will divest up to 7.49 per cent in NMDC Limited. This will be done through offer for sale method, better known as auction method.
“Offer for Sale in NMDC opens tomorrow for non-retail investors. Retail investors can bid on Wednesday. Government would divest 4 per cent equity with a 3.49 per cent Green Shoe option,” Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) said in a tweet.
Floor price for the offer is ₹165. At this price, government can get over ₹3,600 crore.
Floor price is at the discount of 6.24% of closing price of ₹175.30 on Monday at BSE. At present, Government holds 68.29 per cent in the company.
For the fiscal year 2020-21, the company made a profit of ₹2,837.58 crore over the turnover of ₹6,847.57 crore.
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