NMDC Ltd shares on Tuesday
rebounded by 3 per cent in the afternoon, having shed 1.8 per cent in early trade, a day ahead of the state-run miner's initial public offering (IPO) hitting the market.
The government on Monday fixed
a price band of Rs 145-150 per share for its stake sale of 10 per cent in NMDC - a discount of 3.07-6.3 per cent at Monday's closing price of NMDC shares on BSE (Rs 154.75).
The offer may fetch a maximum of Rs 5,947 crore to the exchequer as part of its
Rs 30,000 crore disinvestment plan for the current financial year, if fully-subscribed, and Rs 5,749 crore in the lower price band.
Shares of NMDC jumped 2.81 per cent to Rs 159.10 on the Bombay Stock Exchange in afternoon trade. The scrip saw highs of Rs 164.15 and lows of Rs 153 on the index so far.
Similarly, on the National Stock Exchange, NMDC shares were trading 2.75 per cent higher at Rs 159, having seen intra-day high of Rs 164 and a low of Rs 150.60 so far.
In all, over 6.7 lakh shares exchanged hands on BSE, while over 35 lakh shares were traded on NSE.
With inputs from agenciesDisclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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