ALSO READNational Fertilizers falls 7% on discounted floor price for OFS Hindustan Copper falls 8% on discounted floor price for OFS NTPC slips 4% as govt to sell up to 10% stake via OFS After NMDC, Odisha miners follow suit and hike iron ore prices Increase in Karnataka iron ore mining cap brings relief to steel firms
The government has fixed a floor price of Rs 153.50 apiece, is at a discount of 5% over the closing price of Rs 161.85 on Monday. The two-day offer for sale (OFS) will open for institutional investors on Tuesday and for retail investors on Wednesday. “The Promoter proposes to sell up to 47.46 million (1.5%) equity shares of the face value of Re 1/- each on January 09, 2018 (for non-Retail Investors only) and on January 10, 2018 (for Retail Investors and for non-Retail Investors who choose to carry forward their un-allotted bids) with an option to additionally sell up to 47.46 million (1.5%) equity shares of NMDC,” the company said in a notice of OFS. The stock hit a 52-week high of Rs 163 on BSE on Monday, January 8, 2018 in intra-day trade had outperformed the market by gaining 23% in past one month. On comparison, the benchmark S&P BSE Sensex was gained 3.3% till yesterday.