NMDC FPO price
Navratna public sector unit NMDC Ltd programs to tap the capital market with its FPO, offering for sale of shares for cash at a price to be determined by the book-building process. The FPO comprises a net offer to the public of 330,500,000 equity shares of face value of Re 1 each. It shall constitute up to 8.38 per cent of the post-offer paid-up equity share capital of the mining. The issue price is yet to be decided and will be announced on March 10. The NTPC offer saw poor investor interest and was subscribed just 1.2 times, while the REC failed to attract retail investors despite the overall issue being subscribed over three times.
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