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
- Missing Air Algerie plane from Burkina Faso has crashed - Algerian official
- Taiwan launches inquiry into plane crash that killed 48
- Wipro sees strong sales growth, eyes Europe deals
- Honda's Mobilio car looks to repeat Indonesia success in India
- Exclusive - Ukraine rebel commander acknowledges fighters had BUK missile
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Full Article