NMDC in the red

about 1 year ago
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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.

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