NMDC follow-on offer opens for subscriptions

Mumbai: The follow-on public offer of NMDC, a Navratna public sector undertaking and the largest iron ore producer by volume in India during the last three fiscal years, opened for subscriptions. This public offering of 332,243,200 is through an offer for sale by the President of India, acting through the Ministry of Steel, Government of India for cash at a price determined by the book building process.

Is social media more addictive than cigarettes?

	YES
	NO

   View result

The offer comprises a net offer to the public of 330,500,000 equity shares of face value Re. 1 each and a reservation of 1,743,200 equity shares for purchase by eligible employees. The offer shall constitute upto 8.38 percent of the post offer paid-up equity share capital of the company. The offer will close on March 12, 2010. The price band for the issue has fixed at 300-350 per share. A discount of five percent to the offer price determined pursuant to the completion of the book building process shall be offered to retail individual bidders and eligible employees. The excess amount paid at the time of bidding shall be refunded to the retail individual bidders and eligible employees.

The book running lead managers are UBS Securities India, Citigroup Global Markets, Edelweiss Capital, Kotak Mahindra Capital, Morgan Stanley and RBS Equities. The offer shares are already listed on the BSE, the NSE, the BSEL, the MSE, the CSE and the DSE. BSE is the Designated Stock Exchange for the offer.