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FinMin clears NMDC's Rs 1,000 cr share buyback plan

Press Trust of India  |  New Delhi 

The has approved state-owned iron ore NMDC's share plan worth Rs 1,000 crore, an said.

The timeline for the launch of the offer will be decided by NMDC's board.

"NMDC's Rs 1,000 crore share offer has been approved by the finance ministry," the said.

The government has already lined up offers of nine PSUs including ONGC, Oil India, IOC, NHPC, BHEL, Nalco, Cochin Shipyard, NLC and KIOCL. These would cumulatively fetch about Rs 9,000 crore to the exchequer.

The government holds 72.43 per cent in

Stock of closed at Rs 94.95, down 0.11 per cent over the previous close on BSE.

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

First Published: Tue, January 08 2019. 18:10 IST