Govt to sell up to 4% stake in NMDC via OFS; fixes floor price of Rs 165 per share

State-owned miner NMDC announced government plans to offload 4 percent stake in the company through an offer for sale (OFS) which opens for subscription on Tuesday.

The floor price for the offer shall be Rs 165 per equity share, NMDC informed the stock exchanges.

The President of India, acting through and represented by the Ministry of Steel, Government of India, is the promoter of NMDC Ltd, the company said.

The floor price for the offer shall be Rs 165 per equity share, it added. On Tuesday, the offer shall take place during trading hours on a separate window of the stock exchanges at 9:15 AM and shall close at 3:30 PM.

It will continue to take place during trading hours on a separate window of the Stock Exchanges on Wednesday from 9:15 AM and close at 3:30 PM on the same day. NMDC, under the Ministry of Steel, is country''s largest iron ore mining company.