Govt's Rs 6,500 cr share sale in NMDC likely Dec 13

Govt holds 90% in the firm, plans to offload 10% stake

The government's share selldown in state-run miner NMDC Ltd to raise roughly Rs 6,500 crore is likely to be launched on December 13, three sources with direct knowledge of the situation said on Thursday.

The government, which owns 90 percent of NMDC, plans to sell a 10 percent stake in the company. All the sources declined to be named as they were not authorised to speak to the media.

Last week, the government raised about Rs 800 crore by selling shares of state-run Hindustan Copper Ltd., kick-starting a stalled divestment programme that is crucial to reining in a ballooning fiscal deficit.