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Govt opens bids for CMC, IBP public offer
Mumbai, Feb 23: Government on Monday opened bids for sale of its residual equity in CMC and IBP through public offer route.
Mumbai, Feb 23: Government on Monday opened bids for sale of its residual equity in CMC and IBP through public offer route.
Floor price for bids has been fixed at Rs 475 per share for CMC for the book building process and the public offer would close on February 28.
Floor price for the IBP bids has been fixed at Rs 620 per share for the book building process. The IBP public offer will close on March 1.
The Government has declared a five per cent discount for retail investors for CMC that was privatised about two years ago and would sell its remaining 26.2 per cent equity or 39.76 lakh shares in CMC.
The strategic partner, Tata group for CMC, has not been offered any additional equity in the public offer.
Government has also declared a five per cent discount for retail investors in IBP that was privatised about two years ago.
The strategic partner, Indian Oil Corportion, for IBP, has not been offered any additional equity in the public offer.
The Government would sell its remaining 57.58 lakh shares in IBP which comprises 26 per cent equity. Bureau Report
Floor price for bids has been fixed at Rs 475 per share for CMC for the book building process and the public offer would close on February 28.
Floor price for the IBP bids has been fixed at Rs 620 per share for the book building process. The IBP public offer will close on March 1.
The Government has declared a five per cent discount for retail investors for CMC that was privatised about two years ago and would sell its remaining 26.2 per cent equity or 39.76 lakh shares in CMC.
The strategic partner, Tata group for CMC, has not been offered any additional equity in the public offer.
Government has also declared a five per cent discount for retail investors in IBP that was privatised about two years ago.
The strategic partner, Indian Oil Corportion, for IBP, has not been offered any additional equity in the public offer.
The Government would sell its remaining 57.58 lakh shares in IBP which comprises 26 per cent equity. Bureau Report