Government divests 2.52 % of paid-up capital in National Mineral Development Corporation

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....overnment divests 2.52 % of paid-up capital in National Mineral Development Corporation <br>News and Press Release<br>Dated:- 10-1-2018<br><BR>Government divests 2.52 % of paid-up capital in National ....

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....Mineral Development Corporation Issue gets over-subscribed by three times the base issue size Government has successfully divested 2.52 % of paid-up capital in National Mineral Development Corporati....

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....on (NMDC) for an amount of &#8377; 1200 crore approx. (Rs. 980.05 crore from non-retail investors and &#8377; 232 crore approx. from retail investors) through Offer for sale (OFS) mechanism. Origina....

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....lly, the disinvestment in NMDC OFS was pegged at basic issue size of 1.5% of paid-up capital at floor price of &#8377; 153.50 per share. The issue got over-subscribed by three times the base issue siz....

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....e. To encourage retail participation, a discount of 5% on the cut off price was offered to retail investors. The retail portion has been over-subscribed by 439.64%. The issue has attracted investmen....

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....ts from foreign investors and Domestic institutional investors and mutual funds. With this transaction, the Government of India shareholding in NMDC has come down from 74.94% to 72.42%.<BR> News - Pr....

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....ess release - PIB....