Chittorgarh.com Logo
Loading...

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

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.'

Rate this article
1
5.0
Rating:Rated 5.0 stars
Vote Here ...


34 Comments

34. Arihant   I Like It. | Report Abuse |   Link | Jan 10, 2013 6:59:42 PM Reply
Any news on this? I had also applied through Sharekhan and haven''t got any allotment or refund yet.

Thanks,
Arihant
33. Ravi   I Like It. | Report Abuse |   Link | Dec 31, 2012 11:06:51 AM 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   I Like It. | Report Abuse |   Link | Dec 27, 2012 9:36:03 AM 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   I Like It. | Report Abuse |   Link | Dec 26, 2012 11:24:05 AM Reply
Retail investors are groping in dark about allotment or refund. No information available regarding fate os small investors.
30. kartik   I Like It. | Report Abuse |   Link | Dec 24, 2012 12:44:20 AM 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   I Like It. | Report Abuse |   Link | Dec 18, 2012 4:01:00 PM Reply
NMDC share rate fixed? Any one got allotment?
28. maciocom   I Like It. | Report Abuse |   Link | Dec 17, 2012 9:35:14 PM Reply
I Am agree with DS g India Infoline is very poor and cheap company
27. jadesmith   I Like It. | Report Abuse |   Link | Dec 15, 2012 10:55:45 PM Reply
anyone has got allotment yet?
26. pkuppusamy   I Like It. | Report Abuse |   Link | Dec 14, 2012 9:59:27 AM 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   I Like It. | Report Abuse |   Link | Dec 13, 2012 6:23:05 PM 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   I Like It. | Report Abuse |   Link | Dec 13, 2012 3:55:05 PM Reply
Looks like.. no allotment will happen for 147 :-(
23. Murty   I Like It. | Report Abuse |   Link | Dec 13, 2012 3:44:38 PM Reply
Executed , i had applied through ICICI direct for 300@ Rs150, my order shows as executed.
22. Srinivasan   I Like It. | Report Abuse |   Link | Dec 13, 2012 3:41:27 PM Reply
I have applied thru icicidirect. My order book too shows as ''expired''. What does it mean ? Can I get any allotment ?
21. pkuppusamy   I Like It. | Report Abuse |   Link | Dec 13, 2012 2:43:13 PM 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   I Like It. | Report Abuse |   Link | Dec 13, 2012 2:00:40 PM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 9:02:51 PM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 8:59:11 PM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 7:10:24 PM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 3:32:11 PM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 3:30:56 PM Reply
Issue subscribed 1.25 times
Total Bid received 49,55,20,811
Indicative Price 149.23
14. Chittorgarh.com Team   I Like It. | Report Abuse |   Link | Dec 12, 2012 2:09:45 PM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 1:10:37 PM Reply
Can someone pls tell how to apply through HDFC Securities account
12. pkuppusamy   I Like It. | Report Abuse |   Link | Dec 12, 2012 1:02:13 PM Reply
Is 10. Chittorgarh.com Team really you folks or someone playing with this name?
11. B V SARADA   I Like It. | Report Abuse |   Link | Dec 12, 2012 12:17:52 PM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 12:00:27 PM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 10:38:01 AM 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   I Like It. | Report Abuse |   Link | Dec 12, 2012 10:30:55 AM Reply
Are people applying at 147..or 150?
7. Nilesh   I Like It. | Report Abuse |   Link | Dec 12, 2012 9:08:55 AM Reply
I meant OFS and not OFD.. Sorry
6. NIKU   I Like It. | Report Abuse |   Link | Dec 11, 2012 7:00:06 PM Reply
ONE OF THE BEST OFS
5. Senthil   I Like It. | Report Abuse |   Link | Dec 11, 2012 6:55:57 PM Reply
i am holding account in sbicap securities,,,can any one suggest how to apply NMDC OFC thru sbicapsec
4. Ds g   I Like It. | Report Abuse |   Link | Dec 11, 2012 5:35:51 PM Reply
how can i prticipate in ofs of nmdc. i have trading account in india infoline
3. Pinauni   I Like It. | Report Abuse |   Link | Dec 11, 2012 12:24:31 PM Reply
I can''t see any OFD section there.
2. Nilesh   I Like It. | Report Abuse |   Link | Dec 11, 2012 8:27:51 AM Reply
On ICICIDirect.com, when you login there is a direct option for OFD under equity section
1. Timir   I Like It. | Report Abuse |   Link | Dec 10, 2012 10:13:27 PM Reply
Can someone guide how to bid for this offer?