NMDC's OFS for employees open today, Centre offers 89,08,907 equity shares; Stock at day's high

A floor price of Rs 165.50 per equity share has been fixed.

Jul 16, 2021 01:07 IST India Infoline News Service

NMDC
State-owned NMDC launched an offer for sale (OFS) on Friday for employees where the government is offering 89,08,907 equity shares for a subscription.

A floor price of Rs 165.50 per equity share has been fixed.

In its regulatory filing, NMDC said that the President of India, acting through the Ministry of Steel, Government of India is proposing to offer up to 89,08,907 equity shares of the face value of Rs1 each to the eligible employees of the Company at a price of Rs165.50 per equity share.

NMDC said that the  Employee OFS shall remain open from 16, July 2021 to 18, July 2021 (both days
inclusive).

At around 1.07 PM, NMDC was trading at Rs174 per piece up by 0.8% on Sensex. The stock was near the day's high of Rs174.45 per piece.

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