Indian Stock Market

NMDC , National Mineral Development Corporation is going to come out with a mega IPO this fiscal .
Company plans to raise 12000 crores for a 9% take this year and one more offer next year.

Government wants to reduce it stake to 75% from 98.4%

NMDC has cash reserves close to 12000 crores

About NMDC Company:

Incorporated in 1958 as a Government of India fully owned public enterprise. NMDC is under the administrative control of the Ministry of Steel, Government of India.

Since inception involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc.

India’s single largest iron ore producer and exporter, presently producing about 30 million tons of iron ore from 3 fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State) which are awarded ISO 9001-2000 certification.

NMDC has the only mechanized diamond mine in the country with a capacity of 1.00 lakh carats / annum at Panna ( Madhya Pradesh State ). The mine remained non-operational since 22.08.2005 as per the directives of MP Pollution Control Board. The issues have now been resolved and formal orders have been received from State Govt. on 19.06.09 to start the mining operations.

Strong back up of an ISO 9001 certified R&D Centre, which has been declared as the “Centre of Excellence” in the field of mineral processing by the Expert Group of UNIDO.

Consistent profit making and dividend paying company.