NMDC FPO receives susbcription of 1.22 times

The FPO of NMDC Limited has received subscription of 1.22 times till 4:00 PM on March 12, 2010. The FPO closes for subscription today - March 12, 2010.

The FPO has received total bids for 404664460 equity shares against the offer of 332243200 equity shares resulting in a subscription of 1.22 times.

The issue has received bids for 12133420 equity shares at cut-off price.

The Government of India is offloading 332,243,200 Equity Shares of Rs 1 each for cash at a price band of Rs.300 to Rs.350 through 100% book building process.

Bulk of the bids have come at Rs 300 and Rs 301, so the Government will be forced to price the issue at the lower side of the price band.

Source : Equity Bulls

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