Tepid retail response as NMDC public offer subscribed 0.79 times...

The follow-on public offer (FPO) of NMDC was subscribed 0.79 times with major participation coming from state-owned Life Insurance Corporation and public sector banks. They accounted for over 97% of the total bids received so far, according to the latest data available with the National Stock Exchange (NSE). In contrast, overseas investors, domestic mutual funds and retail investors shied away from the issue. The Rs 9,800 - 11,425 crore issue received total bids for over 26 crore equity shares of which bids for 23 crore equity shares came at the lower end of the price band of Rs 300. While ...

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