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NMDC Offer for Sale (OFS) opens on Dec 12th

Published on Thursday, November 29, 2012 by Chittorgarh.com Team | Modified on Wednesday, July 22, 2015

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NMDC Offer for Sale (OFS) opens on Dec 12th

NMDC, India based iron ore producer and exporter, is coming up with Offer for Sale (OFS) which will open on Dec 12th.

Government of India owns 80% shares of NMDC and planning to sell 10% to raise around $1.2 billion though this Offer.

NMDC, India's single largest iron ore producer and exporter, came with Follow-on Public Offer (FPO) in Mar 2010 when GoI sold 8.38% of the equity. NMDC FPO share were priced at Rs 300. The shares of NMDC never touched that height since than and are now traded at around Rs 160.

NMDC OFS Bidding Detail

  • Offer Size – No. of Shares: 39,64,71,600
  • Cumulative Bid Quantity: 73,24,79,476 (As on Dec 12 2012 4:00PM)
  • Over Subscription: 1.85 times.

Offer Detail

  • Bidding Start Time: 9:15
  • Bidding End Time: 15:30
  • Offer Size – No. of Shares: 39,64,71,600
  • Face Value: 1
  • Floor Price: 147.00
  • Lot Size: 1
  • Tick Price: 0.05
  • Minimum Bid Quantity: 1
  • Maximum Bid Quantity: 39,64,71,600
  • Allocation Methodology: PRICE PRIORITY
  • Seller Members:
    1. Axis Capital Ltd,
    2. Citigroup Global Markets India Pvt Ltd,
    3. DSP Merrill Lynch Ltd,
    4. Goldman Sachs (India) Securities Private Ltd,
    5. ICICI Securities Ltd

NMDC OFS Review By KM Global Investment Research

'We recommend that investors subscribe to the Government’s Offer For Sale of NMDC shares. The company holds exceptional assets supported by a strong balance sheet. Investors can expect the stock to trade above Rs 234 once the company’s new capacities come on stream. We value NMDC at 13X trailing EPS as the stock has usually traded above 13X in the past while it holds cash of Rs 57 per share.'

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34 Comments

34. Arihant  Jan 10, 2013 18:59 I Like It. | Report Abuse Reply
Any news on this? I had also applied through Sharekhan and haven''t got any allotment or refund yet.

Thanks,
Arihant
33. Ravi  Dec 31, 2012 11:06 I Like It. | Report Abuse Reply
Please help me whether the allotment is done ? at what rate? I have applied through IDBI. Money is showing still blocked. Whom should I cantact for the issue?
32. akg  Dec 27, 2012 09:36 I Like It. | Report Abuse Reply
I too applied through ShareKhan at the default price Rs 147 shown in their website in the OFS. Though the order was showing as "executed", came to know only today that shares were allotted only at Rs 159 and I won''t get any share.

It''s a lesson learnt - I didn''t know that I need to bid higher (there was no price band shown as in IPO)
31. SHILPI SINGHAL  Dec 26, 2012 11:24 I Like It. | Report Abuse Reply
Retail investors are groping in dark about allotment or refund. No information available regarding fate os small investors.
30. kartik  Dec 24, 2012 00:44 I Like It. | Report Abuse Reply
hi i applied for ofs at different price slabs between 147 to 153 .
i have not received any shares so far. any one got allotment . any news about it.
29. Ravi  Dec 18, 2012 16:01 I Like It. | Report Abuse Reply
NMDC share rate fixed? Any one got allotment?
28. maciocom  Dec 17, 2012 21:35 I Like It. | Report Abuse Reply
I Am agree with DS g India Infoline is very poor and cheap company
27. jadesmith  Dec 15, 2012 22:55 I Like It. | Report Abuse Reply
anyone has got allotment yet?
26. pkuppusamy  Dec 14, 2012 09:59 I Like It. | Report Abuse Reply
Isn''t reaaly bad?

http://economictimes.indiatimes.com/markets/regulation/sebi-asks-bse-to-explain-nmdc-bid-acceptance-after-market-hours/articleshow/17607259.cms
25. Ds g  Dec 13, 2012 18:23 I Like It. | Report Abuse Reply
is allotment finalised? My Broker indiainfoline told me at 4pm that i had not got any share at 152 although i had applied 120 shares. is it possible. please guide me.

i have doubts in the working of India Infoline ltd working
24. pkuppusamy  Dec 13, 2012 15:55 I Like It. | Report Abuse Reply
Looks like.. no allotment will happen for 147 :-(
23. Murty  Dec 13, 2012 15:44 I Like It. | Report Abuse Reply
Executed , i had applied through ICICI direct for 300@ Rs150, my order shows as executed.
22. Srinivasan  Dec 13, 2012 15:41 I Like It. | Report Abuse Reply
I have applied thru icicidirect. My order book too shows as ''expired''. What does it mean ? Can I get any allotment ?
21. pkuppusamy  Dec 13, 2012 14:43 I Like It. | Report Abuse Reply
My order book also shows as expired. I applied @ 147.
What is the status of anyone who applied for more than 149?
20. Ajith  Dec 13, 2012 14:00 I Like It. | Report Abuse Reply
I have applied for 135 share at floor price Rs 147 through ICICIdirect OFS. Today my order has been expired. Why is it so?
19. Gaurav  Dec 12, 2012 21:02 I Like It. | Report Abuse Reply
As per the latest news it is subscribed 1.74 times
I have applied 100 shares @147 price is there any possibility that I will get the same
18. Chittorgarh.com Team  Dec 12, 2012 20:59 I Like It. | Report Abuse Reply
As per the new media, most bids were received at floor price of Rs 147 thus the allotment is expected at this price.

Investors may not get 100% allotment as issue is slightly oversubscribed.

Shares are expected to be credited either on Friday afternoon or Monday morning.
17. RAJ  Dec 12, 2012 19:10 I Like It. | Report Abuse Reply
I have applied NMDC OFS through SBICAP for purchase of 200 shares @ 147/-. There is any possibility to get some NMDC shares.
16. Gaurav  Dec 12, 2012 15:32 I Like It. | Report Abuse Reply
Can any body tell me how the allotment will be done and at waht price as subscription is 1.25 times and indicative price is 149.23
15. Gaurav Saxena  Dec 12, 2012 15:30 I Like It. | Report Abuse Reply
Issue subscribed 1.25 times
Total Bid received 49,55,20,811
Indicative Price 149.23
14. Chittorgarh.com Team  Dec 12, 2012 14:09 I Like It. | Report Abuse Reply
NMDC OFS subscribed 0.39 times by 2:55 PM.

Bids received for 15,53,69,377 against the issue size of 39,64,71,600.

Issue will close at 3:30 PM for subscription.
13. ma  Dec 12, 2012 13:10 I Like It. | Report Abuse Reply
Can someone pls tell how to apply through HDFC Securities account
12. pkuppusamy  Dec 12, 2012 13:02 I Like It. | Report Abuse Reply
Is 10. Chittorgarh.com Team really you folks or someone playing with this name?
11. B V SARADA  Dec 12, 2012 12:17 I Like It. | Report Abuse Reply
There is special button on SBI CapSec portal, make sure the pop up blocker is not active, you will get a new window to apply. Alternatively press Shift+Ctril+Alt then click that special button.
10. Chittorgarh.com Team  Dec 12, 2012 12:00 I Like It. | Report Abuse Reply
NMDC OFS subscribed 0.25 times by 12:45 PM.

Bids received for 10,85,96,389 against the issue size of 39,64,71,600.

Investors are recommended to apply at floor price of Rs 147.
9. queryipo  Dec 12, 2012 10:38 I Like It. | Report Abuse Reply
When will these shares be credited/allotted to our account. I am looking for when I can get the oppurtinity to sell.
8. dylanc  Dec 12, 2012 10:30 I Like It. | Report Abuse Reply
Are people applying at 147..or 150?
7. Nilesh  Dec 12, 2012 09:08 I Like It. | Report Abuse Reply
I meant OFS and not OFD.. Sorry
6. NIKU  Dec 11, 2012 19:00 I Like It. | Report Abuse Reply
ONE OF THE BEST OFS
5. Senthil  Dec 11, 2012 18:55 I Like It. | Report Abuse Reply
i am holding account in sbicap securities,,,can any one suggest how to apply NMDC OFC thru sbicapsec
4. Ds g  Dec 11, 2012 17:35 I Like It. | Report Abuse Reply
how can i prticipate in ofs of nmdc. i have trading account in india infoline
3. Pinauni  Dec 11, 2012 12:24 I Like It. | Report Abuse Reply
I can''t see any OFD section there.
2. Nilesh  Dec 11, 2012 08:27 I Like It. | Report Abuse Reply
On ICICIDirect.com, when you login there is a direct option for OFD under equity section
1. Timir  Dec 10, 2012 22:13 I Like It. | Report Abuse Reply
Can someone guide how to bid for this offer?