Shares of state-run NMDC has opened at Rs 297, a tad below its issue price of Rs 300 per share on listing day of its FPO shares. A share touched a low of Rs 283.10 in early trade on NSE, which was below discount price given to retail investors. The government has alloted shares to retail investors and employees at Rs 285, a 5% discount to issue price.
On the BSE, the share opened at Rs 295.70 and touched a high of Rs 296 & low of Rs 283.50.
The 33,22,43,200 equity shares issue was opened for subscription during March 10-12, 2010 at price band of Rs 300-350 and was subscribed just 1.25 times on the back of support from qualified institutional investors.
The government has mopped up less than Rs 10,000 crore through this issue, after considering dilution of 8.38% from government.
