NMDC share sale floor price set at 147 rupees
NEW DELHI (Reuters) - The floor price for the sale of shares in state miner NMDC Ltd(NMDC.NS) has been set at 147 rupees a share, a finance ministry official said on Tuesday, in a deal that could raise $1.1 billion for the deficit-strapped government.
The government plans to sell a 5 percent stake in lignite miner and power generator Neyveli Lignite (NELG.NS) in March or April next year, said the finance ministry official, declining to be named as he was not authorised to speak to the media.
The NMDC share sale, part of the government's divestment programme to raise $5.5 billion by next March, will open on Wednesday morning and close later in the day. The government, which owns 90 percent of NMDC, will sell a 10 percent stake. (Reporting by Arup Roychoudhury; Editing by Jijo Jacob)
- Tweet this
- Share this
- Digg this
- UPDATE 3-U.S. fines Berkshire over stock deal, Buffett admits mistake
- UPDATE 2-UK launches hunt for man with British accent on beheading video
- UPDATE 2-Afghanistan gives NYT reporter 24 hours to leave country
- Islamic State opens new anti-U.S. front with beheading video
- McCain calls for dramatic increase in US airstrikes against Islamic State
Addressing India's Infra Needs
The World Bank's private-sector financing arm on Wednesday launched $2.5 billion, rupee-denominated, bonds in the Indian market to fund infrastructure projects, after raising $1 billion in offshore bonds for the sector last year. Full Article