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NMDC IPO – Government Decides to Divest
- Filed under: DisInvestment, Divestment
- Date: Dec 11,2009
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Government of india has released a ad in Ecnomic times , and thead is for calling merchant bankers and book running lead managers for divestment of share in NMDC.
About NMDC
NMDC Limited is a public sector undertaking, hereinafter referred to as
‘company’, under the administrative control of the Ministry of Steel. NMDC Limited is
engaged in exploration of a wide range of minerals. The paid-up capital of the company
as on 31.03.2009 is Rs.396.47 crore comprising 396,47,16,000 shares of face value of
Re.1 each. Presently, the Government of India is holding 98.38% of the paid up equity
capital of the company and the balance is held by Financial Institutions, public and
employees. The shares of the company are listed on various stock exchanges in India.
Divestment Decision
The Government of India intends to divest 8.38% of total paid up equity share capital of NMDC Limited comprising 33,22,43,200 shares, out of its shareholding of
98.38%, through “ Further Public Offer’ in the domestic market. A part of the Public
Offering will be reserved for the employees of the company.
