NMDC price band at Rs 300-350

The Centre is understood to have fixed a price band of Rs 300-350 for the forthcoming follow-on public offer (FPO) of NMDC, a move which may help the exchequer mobilise about Rs 11,700 crore.

“The empowered group of ministers fixed the price band. Going by the upper limit, the government could raise maximum of about Rs 11,690 crore,” sources said.

The government plans to divest 8.38 per cent stake through the FPO. The Centre currently holds 98.38 per cent stake.

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