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NMDC price band at Rs. 300-350 likely
NEW DELHI: The government is understood to have fixed a price band of Rs.300-350 for the forthcoming follow-on public offer (FPO) of the mining giant NMDC, a move which may help the exchequer mobilise about Rs.11,700 crore.
“The Empowered Group of Ministers on Monday fixed the price band in this range. Going by the upper limit, the government could raise a maximum of about Rs.11,690 crore,” a person in the know of the development said.
The government plans to divest 8.38 per cent stake through the FPO which opens on March 10 and closes on 12. The Centre at present holds 98.38 per cent stake in the country's largest iron ore producer. — PTI
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