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Government divests paid-up capital in NMDC

ANI  |  New Delhi [India] 

The of on Wednesday divested 2.52 percent of paid-up capital in (NMDC) for an amount of Rs. 1200 crore approximately.

Rs. 980.05 crore came from and Rs. 232 crore approximately came from through Offer for sale (OFS) mechanism.

Originally, the disinvestment in OFS was pegged at basic issue size of 1.5 percent of paid-up capital at floor price of Rs.153.50 per share.

The issue got over-subscribed by three times the base issue size.

Further, to encourage retail participation, a discount of five percent on the cut off price was offered to

The has been over-subscribed by 439.64 percent.

The issue has attracted from foreign investors, domestic institutional investors, and

With this transaction, the government's shareholding in has come down from 74.94 percent to 72.42 percent.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, January 10 2018. 19:55 IST