Govt to sell up to 7.5% in NMDC via OFS on Tuesday, may get Rs 3,621 cr

Will sell its 4% stake, or 117.2 million shares, at a floor price of Rs 165 each, a near 6% discount to Monday's closing price

The government will sell about 7.49 per cent stake in NMDC Ltd through an offer for sale (OFS) on Tuesday, in a move that will help the exchequer in mopping up over Rs 3,621 crore in divestment receipts.

The government will sell its 4 per cent stake or 117.2 million shares in the iron ore producer at a floor price of Rs 165 each. The floor price has been set at a nearly 6 per cent discount to Monday’s closing price. The OFS also includes a greenshoe option to sell an additional 3.49 per cent shareholding or 102.2 million shares