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Government divests 2.52 % of paid-up capital in National Mineral Development Corporation

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..... Government divests 2.52 % of paid-up capital in National Mineral Development Corporation - News and Press Release Dated:- 10-1-2018 - News - Government divests 2.52 % of paid-up capital in National .....

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..... Mineral Development Corporation Issue gets over-subscribed by three times the base issue size Government has successfully divested 2.52 % of paid-up capital in National Mineral Development Cor .....

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..... poration (NMDC) for an amount of ₹ 1200 crore approx. (Rs. 980.05 crore from non-retail investors and ₹ 232 crore approx. from retail investors) through Offer for sale (OFS) mechanism. .....

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..... Originally, the disinvestment in NMDC OFS was pegged at basic issue size of 1.5% of paid-up capital at floor price of ₹ 153.50 per share. The issue got over-subscribed by three times the base i .....

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..... ssue size. To encourage retail participation, a discount of 5% on the cut off price was offered to retail investors. The retail portion has been over-subscribed by 439.64%. The issue has attract .....

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..... ed investments from foreign investors and Domestic institutional investors and mutual funds. With this transaction, the Government of India shareholding in NMDC has come down from 74.94% to 72.42%. .....

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..... - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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