The Union Government has appointed ALMT Legal, Advocates & Solicitors as the advisor for the 10 per cent stake sale of state-owned iron ore miner NMDC.
The divestment will be through offer for sale by promoters through the stock exchanges, the company said in a filing to the BSE today.
The firm has already appointed five merchant bankers for the divestment, including Citigroup Global Markets India Pvt. Ltd, Goldman Sachs (India) Securities Pvt. Ltd, Enam Securities and ICICI Securities Ltd.
After the divestment, the Government’s holding in the firm will come down to 80 per cent. Its paid-up equity capital as on March 31 was Rs 396.47 crore.