NMDC in the red
By
Ruma Dubey
about 3 years ago
NMDC, which had closed yesterday at Rs.175.30, opened almost 3% lower today at Rs.170.40; it has recovered from here and is now trading at Rs.173 levels.
The stock is reacting to the Govt’s decision to sell up to 11.72 crore shares, representing 4% stake via Offer for Sale (OFS).
The OFS has opened today for non-retail investors and will open tomorrow for retail and non-retail investors.
The floor price for the offer is Rs.165 per equity share, a discount of almost 6% to yesterday’s close.