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Central Government has successfully divested 2.52 % of paid-up capital in National Mineral Development Corporation (NMDC) for an amount of Rs. 1200 crore (approx).Post this divestment, Government of India’s shareholding in NMDC has dropped down to _______% from the earlier capital?
  • a)
    71.42%
  • b)
    72.42%
  • c)
    73.42%
  • d)
    74.42%
  • e)
    75.42%
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Central Government has successfully divested 2.52 % of paid-up capital...
Central Government has successfully divested 2.52 % of paid-up capital in National Mineral Development Corporation (NMDC) for an amount of Rs. 1200 crore (approx). Rs. 980.05 crore has been raised from non-retail investors while Rs. 232 crore (approx.) from retail investor through Offer for sale (OFS) mechanism. Floor price for this divestment was set at Rs.153.50 per share. However, retail investors were offered a discount of 5% on the cut off price. Retail portion was over-subscribed by 439.64% while the overall issue got over-subscribed by three times. The issue also received positive response from foreign investors, Domestic institutional investors and mutual funds. Post this divestment, Government of India’s shareholding in NMDC has dropped down to 72.42% from 74.94%.
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Central Government has successfully divested 2.52 % of paid-up capital in National Mineral Development Corporation (NMDC) for an amount of Rs. 1200 crore (approx).Post this divestment, Government of India’s shareholding in NMDC has dropped down to _______% from the earlier capital?a)71.42%b)72.42%c)73.42%d)74.42%e)75.42%Correct answer is option 'B'. Can you explain this answer?
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Central Government has successfully divested 2.52 % of paid-up capital in National Mineral Development Corporation (NMDC) for an amount of Rs. 1200 crore (approx).Post this divestment, Government of India’s shareholding in NMDC has dropped down to _______% from the earlier capital?a)71.42%b)72.42%c)73.42%d)74.42%e)75.42%Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Central Government has successfully divested 2.52 % of paid-up capital in National Mineral Development Corporation (NMDC) for an amount of Rs. 1200 crore (approx).Post this divestment, Government of India’s shareholding in NMDC has dropped down to _______% from the earlier capital?a)71.42%b)72.42%c)73.42%d)74.42%e)75.42%Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Central Government has successfully divested 2.52 % of paid-up capital in National Mineral Development Corporation (NMDC) for an amount of Rs. 1200 crore (approx).Post this divestment, Government of India’s shareholding in NMDC has dropped down to _______% from the earlier capital?a)71.42%b)72.42%c)73.42%d)74.42%e)75.42%Correct answer is option 'B'. Can you explain this answer?.
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