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NMDC FPO | NMDC FPO to open from Wednesday, March 10, 2010

National Mineral Development Corporation (NMDC) Limited, a fully owned Government of India public enterprise, is coming up with a Follow-on Public Offer (FPO), which would be open for subscription between Wednesday, March 10, 2010 and Friday, March 12, 2010

NMDC was incorporated in 1958 and is a fully owned Government of India public enterprise and a Navratna company, which is under the administrative control of the Ministry of Steel, Government of India. NMDC involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc. NMDC has the only mechanized diamond mine in the country with a capacity of 1.00 Lakh carats / annum at Panna

Earlier, the Company had filed a Draft Red Herring Prospectus (DRHP) for the FPO, which would consist of 332,243,200 Equity Shares, having a Face Value of Re.1/- each. The offer would comprise a net offer to the public of 330,500,000 equity shares and a reservation of 1,743,200 equity shares for purchase by eligible employees at a discount of 5% of the floor price

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