The Centre proposes to sell more than 11.72 crore shares, representing 4% of the equity, in mining major NMDC at a floor price of ₹165 each through an Offer for Sale to non-retail investors that opens on Tuesday. Under the oversubscription or the green-shoe option, it intends to sell an additional 10.22 crore shares corresponding to 3.49% equity to retail investors as well as those non-retail investors who choose to carry forward their unallotted bid. From the proposed sale of 7.49% equity, to both institutional and non-institutional investors, the government stands to mobilise over ₹3,621 crore. On Monday, NMDC shares closed 4.13% lower at ₹175.30 each. On July 7, there will be an option to additionally sell 10,22,78,144 shares (representing 3.49% the equity share) to retail investors and non-retail investors who choose to carry forward their un-allotted bids.

Source: The Hindu July 05, 2021 18:11 UTC