Govt to disinvest NMDC

NewDelhi Jan 7: Union Government on Monday has announced that it " tomorrow begin the sale of 1.5 percent stake in NMDC at a floor price of Rs 153.50.The two-day offer for sale (OFS) will open for institutional investors tomorrow and for retail investors on Wednesday."

Sources said that "Sale of 1.5 percent would fetch Rs 750 crore to the exchequer.The stake sale will have a green-shoe option to retain over-subscription of a further 1.5 percent"

Sources added that "The government has already raised over Rs 52,500 crore in current fiscal through stake sale in PSUs, including the listing of insurance PSUs and exchange-traded fund."

Earlier the government has set a target of Rs 72,500 cr for 2017-18.