NMDC retail portion OFS fully subscribed; govt to fetch Rs 12 billion

The sale of 2.52% in NMDC at a floor price of Rs 153.50 per share will fetch about Rs 12 billion to the exchequer

The government's 2.52 per cent stake sale in state-owned miner NMDC saw a robust response from investors with the retail portion getting over-subscribed by 5.40 times on Wednesday.
 

The two-day offer for sale (OFS) opened for retail subscription today. Over 85.8 million bids came in for 15.9 million shares reserved for them, representing 5.40 times over-subscription, according to the NSE data.
 

Institutional investors had yesterday put in bids for over 63.6 million shares - 1.68 times of the 37.9 million shares reserved for them.
 

The sale of 2.52 per cent in NMDC at a floor price of Rs 153.50 per