The government on Thursday said it is planning 10 per cent stake sale in NMDC by mid-December, which could fetch the exchequer about Rs 7,500 crore (Rs 75 billion).
The Finance Ministry last week had said it is looking at divesting stakes in three PSUs - Hindustan Copper, NMDC and Oil India by end December, which may fetch Rs 12,000 crore (Rs 120 billion) to the exchequer.
Steel Minister Beni Prasad Verma said the process of NMDC disinvestment has already begun and roadshows were being organised.
Earlier this month, the government appointed leading law firm ALMT Legal, Advocates & Solicitors as legal adviser for selling its 10 per cent stake in the country's largest iron ore miner.
The government has also appointed Citigroup Global Markets India, Goldman Sachs (India) Securities, DSP Merrill Lynch (all Mumbai based), Enam Securities and ICICI Securities (Delhi based) as Merchant Bankers for the stake sale.
The stake sale will take place through "Offer for Sale by promoters through the stock exchanges" (OFS) method.
The Cabinet Committee on Economic Affairs (CCEA) had on October 25 cleared sale of about 39 crore (Rs 390 million) equity of NMDC of face value of Rs 1
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