NMDC OFS ALERT! Oversubscription option to be exercised - Check details from Ministry of Steel

The Ministry of Steel, on behalf of the President of India on Tuesday, referring to the notice dated July 5, 2021, regarding the offer for sale of equity shares having a face value of Rs 1 each of NMDC Limited said that it will exercise the oversubscription option to the extent of 10,22,78,144 equity shares (representing 3.49 percent of total issued and paid-up equity share capital of the company) in addition to 11,72,24,234 equity shares of the company.

"We wish to exercise the Oversubscription Option to the extent of 10,22,78,144 equity shares (representing 3.49% of total issued and paid-up equity share capital of the company) in addition to 11,72,24,234 equity shares of the company, (representing 4% of the total issued and paid-up equity share capital of the Company) forming part of the Base Offer Size," the ministry informed the exchanges on Tuesday.

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It further said that accordingly, the total Offer Size will be up to 21,95,02,378 Equity Shares (representing 7.49% of the total paid-up equity share capital of the company) of which 2,19,50,239 equity shares would be available as part of the Offer for retail category on T+1 day that is July 7, 2021.

On July 5, it was informed to the exchanges that "The President of India, acting through and represented by the Ministry of Steel, Government of India, is the promoter of NMDC Ltd (the "Promoter")."

"The Promoter (the "Seller") proposes to sell up to 11,72,24,234 Equity Shares of the Company, (representing 4% of the total issued and paid up equity share capital of the Company) ("Base Offer Size"), on July 06, 2021, ("T day") (for non-Retail Investors only) and on July 07, 2021 ("T+1 day") (for Retail Investors and for non-Retail Investors who choose to carry forward their un-allotted bids) with an option to additionally sell 10,22,78,144 Equity Shares (representing 3.49% of the total issued and paid up equity share capital of the Company) (the "Oversubscription Option") through a separate, designated window of the BSE Limited (the "BSE") and the National Stock Exchange of India Limited ("NSE", and together with the BSE, the "Stock Exchanges"), collectively representing 7.49% of the total issued and paid up equity share capital of the Company (held in dematerialized form in one or more demat accounts with the relevant depository participant), in accordance with the OFS Guidelines (such offer for sale hereinafter referred to as the "Offer")."

Shares of NMDC Limited were trading at 167.15, down by 2.50 points or 1.44 percent on the BSE at 12:36 pm. While on the NSE it was at 167, down by 2.45 points or 1.45 percent.