The NAVRATNA’S follow on public offer received decent recent response on the first day, with bids for 17 percent of the shares on offer. Considering the size of the issue this response is very good. However, the offer received bids mostly at the lower end of its price band of Rs300.
NMDC shares ended at 379.85 rupees, up 1.1 percent in the exchanges.
RS 40,000CR DIS INVESTMENT IN NEXT FISCAL
The government is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper, SJVNL and EIL and others next fiscal to raise Rs40,000 crore, as indicated in the budget.
The said divestment in some of these companies will be through initial public offers while in some others it will be follow-on public offers.
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