NMDC IPO : Government readdy to divest

by khalid on 13/12/2009 · 0 comments

nmdc

NMDC, state-owned and India’s biggest mining company, has come out with a divestment plan of its 8.38% of total paid up equity share capital comprising 332243200 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.

The paid-up capital of the company as on 31st Mar 09 is Rs 396.47 crore comprising 3964716000 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.

NMDC share’s CMP is Rs 417.95 on 11th Dec 09.

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