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
- Google launches new email service dubbed "Inbox"
- U.S.-led air strikes killed 521 fighters, 32 civilians in Syria - monitor
- Lax security in focus after attack at Canada's parliament
- India hope to get boxer Sarita Devi's suspension reversed
- Apple CEO says to add 25 stores in China within two years - Sina
India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth largest coal reserves, a source familiar with the matter said. Full Article