NMDC Fpo | NMDC Fpo Price | NMDC Ltd Fpo Price

NMDC Fpo | NMDC Fpo Price | NMDC Ltd Fpo Price

NMDC FPO Price

Nmdc Share Slashes sharply in opening trades ahead of its announcement of a follow-on public offer (FPO) price. NMDC Price opened at Rs 405 and touched a high of Rs 418. However, it slipped 8.3% from there to touch a low of Rs 383. It is now trading with a loss of Rs 24 or 5.7%, at Rs 391. Around 133,000 shares have changed hands at the counter so far.

The iron ore mining major, NMDC’s follow-on public offer (FPO) will be one of its kind in the recent history of public issues considering that the price discovery for the offer could prove to be a difficult task for the lead managers and the government.

NMDC is back in the market with one of the biggest disinvestment offers from the government of India, as it seeks to fill the coffers of the UPA regime by raising up to Rs 20,000 crore to help New Delhi achieve its target of Rs 25,000 crore for the current financial year.

The FPO opens on March 10 and on offer are 33.22 crore shares.

NMDC has reserved 50 per cent of the shares for qualified institutional buyers and 35 per cent of the IPO will be allocated to retail investors.

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