NMDC's $1.2 billion share sale likely on Dec 13

The government's share selldown in state-run miner NMDC Ltd to raise roughly $1.2 billion

RELATED ARTICLES

is likely to be launched on December 13, three sources with direct knowledge of the situation said on Thursday.

The government, which owns 90 percent of NMDC, plans to sell a 10 percent stake in the company. All the sources declined to be named as they were not authorised to speak to the media.

Last week, the government raised about $147 million by selling shares of state-run Hindustan Copper Ltd., kick-starting a stalled divestment programme that is crucial to reining in a ballooning fiscal deficit.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s relief-rescue ops in Nepal are part of Modi’s South Asia strategy

    In reacting with alacrity to the earthquake disaster in Nepal, prime minister Narendra Modi has demonstrated two things.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Taslima Nasreen

Will Saudi sex slavery ever end?

An intriguing news item was published in the Arab world ...

Purnendu Ghosh

Err all right, but hiding is wrong

We are human, and therefore, prone to making mistakes. We ...

Shona Adhikari

Art lovers in India are spoilt for choice

Recent art trends point towards the inclusion of a wider ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture