<p>As part of its divestment programme to have a minimum 10 per cent public holding in profitable PSUs, the government is proposing to offload 8.38 per cent of its stake in NMDC through a follow-on public offer before the end of the fiscal.<br /><br />Based on the current market valuation of NMDC, the stake sell would fetch the government a hefty Rs 14,100 crore. NMDC shares closed at Rs 425.75, up 2.80 per cent on the BSE on Tuesday.<br /><br />The Government currently holds about 98.38 per cent in the largest miner, and the rest are with the public.<br /><br />The NMDC public issue would be among the four FPOs planned by the Government for this fiscal. Public issues of power sector PSUs — NTPC, REC and SJVNL are also likely this fiscal.</p>
<p>As part of its divestment programme to have a minimum 10 per cent public holding in profitable PSUs, the government is proposing to offload 8.38 per cent of its stake in NMDC through a follow-on public offer before the end of the fiscal.<br /><br />Based on the current market valuation of NMDC, the stake sell would fetch the government a hefty Rs 14,100 crore. NMDC shares closed at Rs 425.75, up 2.80 per cent on the BSE on Tuesday.<br /><br />The Government currently holds about 98.38 per cent in the largest miner, and the rest are with the public.<br /><br />The NMDC public issue would be among the four FPOs planned by the Government for this fiscal. Public issues of power sector PSUs — NTPC, REC and SJVNL are also likely this fiscal.</p>