The Indian government is divesting 7.5 percent of its equity holding in iron ore miner NMDC Limited through an offer for sale, a government notice said on Tuesday, July 6.
The offer for sale of the equity share in NMDC will open on Tuesday, July 6, for non-retail investors and retail investors can put in their bids on Wednesday. The government will divest four percent with a 3.49 percent green-shoe option, the government said in its notice.
The government is aiming to raise INR 36.20 billion ($489 million) through the sale of its holding in the company.