Indian Express reported that NMDC's offer for selling 39.65 crore shares was over subscribed, following hectic trading towards the end of the day, ensuring at least INR 5,900 crore for the exchequer.
Against the offer for sale of 39,64,71,600 shares, or 10%, of government's stake in the company, the offer has received 45,67,70,509 bids at an indicative price of INR 149.11 per share till 1535 hrs
Indicative price is the volume weighted average price of all the valid or confirmed bids.
The government had set the floor price for the offer at INR 147 apiece.
NMDC's shares today settled at INR 154.25, 3.17% DoS over the previous closing.